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  HOME | Latin America (Click here for more)

Spainís FCC Cuts Deal with Slimís Carso for Latin America Construction Projects

MADRID Ė Spainís FCC said in a filing with Spanish securities regulators Tuesday that its FCC Construccion unit reached an agreement with Carso Infraestructuras y Construccion, a company owned by Mexican billionaire Carlos Slim, to complete construction projects in Latin America.

The companies will be 50-50 partners on projects in Latin America, with the exception of Mexico, FCC said.

FCCís board of directors approved pursuing deals with the companyís Mexican stockholders at the annual general meeting, which was held last Thursday in Madrid.

The agreement will help leverage synergies and maximize business opportunities, especially in the Americas, FCC said.

FCC said ahead of the meeting that it was looking at signing agreements with Carso to pursue public works contracts.

The Spanish company formed a new subsidiary, FCC Concesiones, to compete in the sector ahead of the imminent sale of Globalvia.

Slim became a top FCC shareholder by acquiring a 25.6 percent stake in the Spanish construction company.

Spanish businesswoman and billionaire Esther Koplowitz, who inherited Fomento de Construcciones y Contratas, or FCC, from her late father, Ernesto, also has a large stake in the company.

 

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