News Column

Bill Gates Buys Stake in Spanish Construction Firm

October 22, 2013

Associated Press

MADRID (AP) Spanish construction company FCC says one or more entities linked to Bill Gates bought a 6-percent stake in the group for 113.5 million euros ($155 million), a welcome boost for the sector hardest hit during the economic crisis.

An FCC statement late Monday said the purchase made the entities linked to the co-founder of Microsoft the second biggest shareholder of FCC after Spanish businesswoman Ester Koplowitz. FCC gave no more details on the identity of the purchaser.

Spain's construction businesses suffered greatly after the country's bloated real estate sector crumbled in 2008.

FCC's shares were up 9 percent Tuesday at 17 euros in Madrid.

The company has projects across the world and in July won a 6-billion euro contract to build the new metro in Riyadh, Saudi Arabia.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Original headline: Funds linked to Bill Gates buy into Spanish firm

Source: Copyright 2013 The Associated Press. All rights reserved.

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