We are FCC - Nº7

FCC completes the sale of a 49%minority stake inAqualia to Australian fund IFM for €1,024million FCC has formally completed the sale of a 49% stake in its Aqualia subsidiary to Australian fund IFM Investors for €1,024 million after receiving the green light from the European Commission (EC) on 22 August, in accordance with the merger regulation, and approval by the Federal Economic Competition Commission of Mexico on 20 Sep- tember. Aqualia, as head of FCC’s water management area, plans to maintain its current strategy, operations and commercial relations (with public administrations, private customers, suppliers, etc.), while strengthening and developing new markets, bene- fitting from the active involvement of its new shareholder, the resulting synergies, and the continuity of the company’s current management. Therefore, this operation enhances Aqualia’s capacity and is a testimony to the company’s track record and a FCC has used the disposal proceeds mostly to pay down financial debt at the parent by more than EUR 800 million and, coupled with the new funding raised, repay FCC, S.A.’s previous syndicated loan, the remaining of the proceeds from the sale will be used for corporate purposes IFM Investors is a global inves- tor-owned fund manager which, at 31 August 2018, managed assets worth $81.2 billion. Established more than 20 years ago, it is owned by 28 Australian pension funds, which manage the savings of 15 million people worldwide. Its investment teams in Europe, North America and Australia manage insti- tutional strategies in infrastructure (equity and debt), debt investments, listed equities and private equity. IFM Investors has been a signatory to the United Nations-backed Principles for Responsible Investment since 2008. IFM Investors has offices in eight locations: Melbourne, Sydney, New York, London, Berlin, Tokyo, Hong Kong and Seoul. IFM, an ethical fund managing assets worth $81.2 billion recognition of its reputation as specia- list and expert technology partner for administrations and industry in providing water management ser- vices. This is IFM Investors’ first invest- ment in a water management com- pany in continental Europe, and its third globally. The Australian fund has amassed more than 15 years of experience in the sector, having invested in Wyuna Water (Austra- lia) in 2003 and Anglian Water (UK) in 2006. Accordingly, the new shareholder structure strengthens Aqualia’s board of directors, which will be chaired by FCC, composed by seven members; of which four will be designated by FCC and three by IFM. FCC has used the disposal pro- ceeds mostly to pay down financial debt at the parent by more than F C C G R O U P 4 F C C G R O U P