Spain's FCC sells 25% of unit to Canadian pension fund CPP for $1.2 billion

Fomento de Construcciones y Contratas SA

10/10/2025 06:44

MADRID, Oct 10 (Reuters) - Spain's FCC FCC.MC has agreed to sell a 25% stake in its environmental subsidiary FCC Enviro to Canadian pension fund CPP Investments for 1 billion euros ($1.16 billion), it said late on Thursday.

Following the deal, the construction and infrastructure company FCC, majority-owned by Mexican billionaire Carlos Slim, will retain a 50.01% stake in its subsidiary, while CPP will increase its stake to 49.99%, the company added.

In a statement, FCC said it intended to use the proceeds to address strategic opportunities and corporate needs.

FCC Enviro and its domestic and international subsidiaries carry out environmental services activities through four main platforms.

The transaction is subject to regulatory approvals.

In 2023, FCC sold around a quarter of its environmental subsidiary to CPP for 965 million euros.

($1 = 0.8648 euros)

 (Reporting by Jesús Aguado; editing by Emma Pinedo and Muralikumar Anantharaman)

 ((jesus.aguado@thomsonreuters.com; +34 91 835 68 32; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))