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Spain’s FCC sells stake in Enviro arm to Canada for €1bn - Global Construction Review
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Spain’s FCC sells stake in Enviro arm to Canada for €1bn - Global Construction Review
Spain’s FCC Construcción has announced it will sell a further 25% of its environmental arm to Canadian state private-equity company CPP Investments for €1bn. FCC will continue to hold a 50.01% majority interest in FCC Enviro, with CPP Investments’ stake rising from 25% to 49.99%. FCC said the deal would help it meet "strategic opportunities and the corporate needs”. FCC Enviro expects to continue with its current management team, strategy, op…
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