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Sun November 29 2020

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Bill Gates takes stake in FCC

22 Oct 13 A fund linked to Microsoft co-founder Bill Gates has spent almost €114m (£96.5m) buying 6% of Spain-based infrastructure giant FCC.

Bill Gates
Bill Gates

Bill Gates' fund is now the second largest shareholder in FCC after Esther Koplowitz. She is one of Spain’s wealthiest women and is, like Gates, a philanthropist.

FCC is currently undergoing a corporate revamp and divestment of €2bn of assets under its new CEO Juan Bejar. Its share price has risen from €7 to €14 since the start of this year and went up further, to more than €17, following news of Gates’ purchase.

FCC’s regulatory announcement to the Spanish stock exchange commission said that it had sold 7,638,198 shares in treasury stock to one or more entities related to William H Gates III. The price was €14.865 per share, for a total of €113,541,813.

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MPU
MPU

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