FCC and Bankia close the sale of Globalvia € 420M.

The sale of the shares of Globalvia is a fact. On March 17 took place the sale by FCC and Bankia of 100% of the shares of the concessionaire Globalvia to USS, OPTrust and PGGM funds.

The transaction was announced in October at the same price previously agreed by FCC and Bankia – 50% of the shares each- with Malaysian government strategic investment fund Khazanah Nasional Berhad, an operation finally materialized with the three funds.

With this sale, Bankia could enter up to € 210M in a deal that strengthens its liquidity and capital and represents a further step in the divestment of its portfolio.

For FCC, this sale was a part of a range of divestments included in the Strategic Plan 2015, which brought about € 2.000M revenue.
The price of the sales transaction was structured in several installments and initial € 166M was at the time the transfer of shares is formalized.

In addition, there was another deferred payment in the first half of 2017, which could reach up to € 254M, depending on the valuation of the company at the time of conversion of the bond.

This operation happens after the funds decide to exercise their pre-emption rights, as a consecuence of being holders of a € 750M convertible bond into shares of the company.