FCC, the construction and services group, approved the latest movement of the Roadmap designed by its main shareholder, Carlos Slim, to consolidate all his real estate holdings and list their value on the stock market. The Shareholders’ Meeting of the company, where Slim holds more than 80% control, has given the green light to the spin-off project of its subsidiary Inmocemento. This project aims to begin trading by the end of the year with a value of 1,596 million euros through a listing.
The operation involves dividing the FCC business into two parts and merging them into one company: the cement company, stemming from Cementos Portland, which FCC controls 99.028%; and the real estate sector, in which the company owns 80% with the remaining 20% owned by Carlos Slim through his company, Soinmob Inmobiliaria Española. This new entity will encompass the acquisitions made by Slim in companies like Realia and Metrovacesa.
Carlos Slim has shown interest in Spanish real estate, which has not fully recovered from the housing bubble burst in 2008. With the construction of new homes at a standstill, the sector is struggling to reach its pre-bubble levels. Slim sees potential in bringing out the intrinsic value of his real estate properties, especially with the rising construction prices benefiting Cementos Portland.
The shareholders aim to maintain their initial stake in the new listed company, resulting in a low liquidity company with a free float close to 6%-7%. This new entity will represent an important part of FCC’s revenues and EBITDA. The shareholders have also approved a flexible dividend payment and the appointment of Esther Alcocer Koplowitz as a proprietary director for a period of four years.
In addition to the business decisions made by FCC, there are various articles and resources available online on topics ranging from implementing Salesforce Customer 360 to the benefits of adopting Agile practices in organizations. Other articles discuss NLP techniques for personal development, geographical variations in PMP certification costs, and security practices in AWS projects. The online platform covers a wide range of topics for readers seeking information and resources on technology, business, and personal development.
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