FCC Finds Salvation

Spain’s Fomento de Construcciones y Contratas, S.A. (FCC), after taking losses of Euro 607 million (US$829 million) in the first half of 2013, has found relief from a trio of Spanish banks and Bill Gates. The banks have agreed to renegotiate their loans and Bill Gates has taken a 5.7% stake in the embattled contractor. FCC is a large construction and environmental services group and 50% owner of toll road developer Globalvia Infraestructuras, S.A.


About Bill Reinhardt

Editor of Public Works Financing newsletter
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