Inmoracal to take stake in FCC

Inmoracal's manager Luis Portillo intends to take a 15,05% stake in FCC through Acciona. The share is valued around EUR 1,475 mln, Spanish economic magazine Negocios reported. 'The success of the operation will bring relief to Esther Koplowitz, the major FCC shareholder, and will add value to the Acciona group to an amount of approximately EUR 950 mln. The latter has concluded investment operations for EUR 525 mln in 2003', the magazine stated. The acquisition involves 19,65 million shares, equalling 15,05% of FCC, and will allow Inmoracal to have at least two seats on FCC's board.

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