Connect with us

Hi, what are you looking for?

Jewish Business News

Money

Esther Koplowitz Inherits Tradition Of Family Dynasty Debt

(L-R) Doughter Esther Alcocer Koplowitz and mother  Esther Maria Koplowitz

 

In Spain, a country where 85% of all businesses are family-run, it is not only the people one knows but pedigree can help businesspeople throw their weight around. Optimal bloodlines meant ease in getting loans, and therefore, ending up in a pile of debt. That situation might have been precarious before for many Spanish family dynasties that ran businesses, but with the financial crisis the past few years in Spain, business owners have been hit especially hard, since they can no longer pay off their debt and find it more difficult than ever to obtain additional leverage.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Esther Koplowitz  took substantial debt to buy her sister Alicia’s stake in the family company, Fomento de Construcciones & Contras SA (FCC), of which she now owns 50%. To buy the stick, she had to take on a debt of 1 billion euros or $1.3 billion.

Alicia+Koplowitz

 

Nicolas Veron of Breugel, a Brussels think tank, told Bloomberg, “There was a lot of leverage taken in Spain in the good years, and now it’s the day of reckoning. Typically, families don’t want to relinquish their equity control, and therefore, finance too much of their growth with debt.”

Currently, Koplowitz is negotiating her debt with Banco Bilbao Vizcaya Argentaria and Bankia SA. Koplowitz  FCC has major investors, including George Soros and Bill Gates

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.