FCC acquires 13.11% of the capital of Realia Business for 83.9 million. Achieves 50.1% direct participation in the promoter.
The real estate subsidiary of FCC (‘FCC Inmobiliaria’) has acquired this Friday a 13.11% percentage of the share capital of Realia Business for a cash amount of 83.9 million euros after reaching an agreement with Control Empresarial de Capitales ( CEC), according to Europa Press.
With this operation, the business group achieves a direct control participation in the promoter of 50.1% , as the company has informed the National Securities Market Commission (CNMV). Along these lines, 100% of the share capital of Jezzine Uno , an equity rental company owned 100% by Soinmob -a subsidiary of the same percentage of CEC-, has also been incorporated into FCC Inmobiliaria.
“This operation is carried out through a non-monetary capital increase subscribed by Soinmob and that allows FCC Inmobiliaria to fully integrate Jezzine and increase its consolidated balance sheet with greater exposure to rental equity,” explained FCC Inmobiliaria.
It has also indicated that the resulting shareholding structure “does not alter the control of FCC Inmobiliaria by FCC”, which holds 80.03% of the capital of its subsidiary, while the rest (19.97%) belongs to Soinmob .
This operation, the company stressed, allows “diversifying the risk and geographic opportunities of FCC Inmobiliaria, by expanding its activity to new areas of operations in which it is not currently present.”