MADRID, June 12 Spanish billionaire Esther
Koplowitz could sell some of her stake in the holding company
that controls builder FCC as part of a debt
restructuring deal, said a source who is working on the
The Koplowitz family fully owns B-1998, which in turn owns
just over 50 percent of the builder.
"It is true that there are refinancing negotiations that
could involve the sale of part of the holding. There are talks
with a lot of people," said the source, who asked not to be
named due to the confidentiality of the process.
FCC shares were the top gainers on Thursday morning on
Spain's benchmark index, up 4.75 percent to 17.64 euros
Spanish online business report Elconfidencial.com said on
Thursday an investment vehicle of George Soros and other funds
were in talks with Koplowitz to inject between 400 million and
600 million euros ($545 million-$817 million) into B-1998.
It was not immediately possible to contact anyone at the New
York offices of Soros Fund Management.
The source did not confirm who Koplowitz was in talks with,
but said Koplowitz would not necessarily lose control of FCC.
"A capital injection in B-1998 that, according to the press,
faces major debt maturities, will be a relief for the group and
would also be positive for FCC," Banc Sabadell said in a
Microsoft founder Bill Gates holds 5.74 percent of FCC after
reporting a stake earlier this year, according to Thomson
Reuters data. A Soros investment vehicle holds 3.1 percent of
the company through equities swaps, the source said.
Among B-1998's biggest creditors are Spanish banks BBVA
and Bankia. The privately held company does
not report its debt load.
($1 = 0.7345 Euros)
(Reporting by Carlos Ruano; Editing by Fiona Ortiz and Mark