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Esther Koplowitz agrees cancellation of €843.4 million debt. Inversora Carso increases ownership interest in FCC by 15.4%

11/06/2020

Esther Koplowitz agrees cancellation of €843.4 million debt. Inversora Carso increases ownership interest in FCC by 15.4%

Spanish entrepreneur Esther Koplowitz has cancelled FCC’s entire debt of €843.4 million backed by 60.54 million shares of FCC at maturity. The debt, which fell due on 30 April this year, was arranged originally with BBVA and Bankia but acquired by Inversora Carso on 17 May 2018 for €599 million. The agreement includes the transfer of all the FCC shares pledged, worth €524.9 million at the maturity of the debt, to Inversora Carso, which is considering granting a call option on 5% of the FCC shares to Esther Koplowitz.

Inversora Carso’s stake in FCC post-agreement stands at 76.6%, while Esther Koplowitz retains a 4.6% shareholding and four seats on the Board of Directors.