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Financier Soros buys into Spain's FCC

Source: Reuters - Thu 26th Dec 2013
 Financier Soros buys into Spain's FCC

Billionaire financier George Soros bought 3% of heavily-indebted Spanish infrastructure firm FCC from the group's founding family, Spanish media reported on Thursday.

Last week, the Koplowitz family sold 3.8% of its majority stake in FCC for 72 Mln to reduce personal debt.

The firm registered losses of 675 Mln in the 9 months to September.

An FCC spokesman declined to comment on the media reports.

The purchase by Soros would follow the October acquisition of a 6% stake in FCC by software billionaire Bill Gates, who became the company's 2nd largest shareholder behind Esther Koplowitz, who inherited FCC from her father.

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