FCC in talks for subsidiary stake sale

FCC is in “exclusive negotiations” with a proponent for the acquisition of a non-controlling stake in one of its subsidiaries.

The firm revealed through Spanish market regulator Comisión Nacional del Mercado de Valores that IFM is interested in acquiring a 49% stake in FCC Aqualia.

The company said: “FCC and IFM have entered into advanced and exclusive negotiations regarding the acquisition.”

In October 2017, FCC Group announced a mixed set of results for the first nine months of 2017, with higher net profit but lower revenue.