FCC : Bid for 24% of Metrovacesa
>Bid for 24% of Metrovacesa at € 7.8 per share - FCC has launched a bid for a 24% stake in Metrovacesa at € 7.8 per share, implying € 284m, through its real estate subsidiary, FCyC, which is 80%-controlled by FCC. The price offered implies a 20.2% premium to the previous day’s closing price, a 16.5% premium to the average price of the last three months and a 11.3% premium to the average price of the last six months. The controlling shareholder of FCC (CEC, Carlos Slim...Fomento de Construcciones y Contratas is the parent company of a group engaged in sanitation services, cleaning, maintaining, purification and distribution of water, construction of highways, hydraulic works, marine works, air and rail transport infrastructure, urban developments, housing, non-residential buildings, office buildings, toll highways, parking garages, marinas and water treatment plants. Co. is also engaged in the manufacture and sale of cement and cement infrastructures, such as precast concrete elements; and in the financial markets, and real estate development, leasing and tourism.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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