Fomento de Construcciones y Contratas SA to sell 51 pct of its energy division

Monday, 30 Dec 2013 02:35am EST 

Fomento de Construcciones y Contratas SA:Says it has reached an agreement with Plenium Partners to sell a 51 percent stake in FCC's energy division (FCC Energia).Says the operation is to reduce the net debt of the group of 763.3 million euros.Says the agreement involves a payment of eight million euros on the signing of the sale contract.Says the sale of the division was one of the objectives included in the Strategic Plan presented in Mar. 2013.Says under the plan the company intends to focus on the water, environmental services and infrastructure businesses and reduce financial debt. 

Related Company News

Company Quote