The businesswoman Esther Koplowitz has paid off her debt of 843 million euros with the Mexican magnate Carlos Slim after completing an agreement that contemplates the transfer of a percentage of her shares in FCC - 15.4%, specifically - as payment of the liability. By virtue of this agreement, Koplowitz has reduced to 4.6% the 20% participation that he had until now in the company, founded by his family, although he will maintain his four seats on the Board of Directors.

"The Spanish businesswoman Esther Koplowitz has canceled, on maturity, the entire debt for a total amount of 843.4 million euros and guaranteed with 60.54 million shares of FCC," the company reports in a statement on Thursday. .

The agreement contemplates the total transfer of said FCC shares, whose value at the maturity date - April 30 - is 524.9 million euros, to Inversora Carso (owned by Slim), who in turn is valuing grant a purchase option of 5% of FCC shares to Esther Koplowitz.

For his part, the Mexican businessman increases his percentage of control in the construction and services company from 61.12% to 76.6%, coinciding with his return to the path of growth, profit and dividend distribution.

Said debt was originally contracted in 2014 with BBVA and Bankia and later acquired by Inversora Carso, on May 17, 2018, for 599 million euros.

However, the magnate leaves the door open for Koplowitz to recover part of his lost stake, given that he is "evaluating" granting him a purchase option of 5% of the group. The businesswoman also maintains four positions on the company's Board of Directors, including the Presidency, which is occupied by the eldest of her three daughters, Esther Alcocer Koplowitz.

120 years of history

Esther Koplowitz once again sees its stake in FCC drop as it marks five years since Slim's entry into its capital and as the company celebrates its 120-year history next July.

Just last week, on the occasion of the FCC shareholders meeting, Alcocer Koplowitz remembered this anniversary to refer to Slim's entry in 2015 as a "turning point" in the history of the company, reports Europa Press.

"Thanks to its executive work, FCC underwent a momentous change by significantly reducing its debt," he said. "This new situation has allowed us to face new challenges in optimal financial conditions, including the recovery of the dividend," added the president.

Slim now reinforces this position of control at FCC after completing the restructuring that he has carried out in the company and as he now faces the challenges of the crisis caused by the pandemic.

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