FCC has signed this Thursday an agreement for the sale to CPP Investments of 24.99% of the capital of its subsidiary FCC Servicios Medio Ambiente Holding, S.A.U (FCC Medio Ambiente) for a total of 965 million euros, as reported by the company in a statement to the National Securities Market Commission (CNMV).
The closing of the transaction is subject to the usual conditions precedent such as competition or authorization of financial institutions. In addition, FCC will maintain the majority shareholding of FCC Medio Ambiente with 75.01%. Likewise, the company explains that the main destination of the funds will be to meet the strategic opportunities and corporate needs of the FCC group.
FCC Medio Ambiente and its subsidiaries, nationally and internationally, develop various Environmental Service activities through four main platforms such as Spain and Portugal, United Kingdom, United States and EEC (European Economic Commission).
Thus, FCC Medio Ambiente foresees the continuity of the current strategy, the maintenance of its operations and commercial relations (public administrations, private clients, suppliers, etc.), the strengthening and development of our activities with the active participation and synergies derived from the incorporation of the new partner and the permanence of the company's management team.
CPP Investments is a global management group of the 21 million contributors and beneficiaries of the Canada Pension Plan. With assets under management of 570,000 million dollars as of March 31, 2023, of which 487,000 million are located outside Canada, in very diverse sectors of activity, such as real estate, infrastructure, energy, debt and public and private equity funds.
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