Esther Koplowitz has secured her 22.4% stake in the Spanish construction and engineering company FCC Group.
Koplowitz successfully refinancef her own long-term personal debt, for five more years, with two major Spanish banks – Banco Bilbao and Bankia.
At the end of 2014 Mexican billionaire Carlos Slim acquired a 25.6% stake in FCC by way of a rights offering, which increased the FCC capital base significantly.
With the refinancing of Ms. Koplowitz’s personal debt as well, and with a return to somewhat more normal trading conditions, FCC has achieved financial stability and can look forward to resumed growth potential as 2015 unfolds.
The FCC Group launched a strategic recovery plan in 2013, after some very difficult recession years for the Spanish construction and engineering sectors.
Since then FCC has refinanced 4.5 billion euros of debt, divested non-core assets with a value of over 1.5 billion euros, and attracted investment from funds associated with international investors such as Bill Gates and George Soros.