Spain's construction and infrastructure company Fomento de
Construcciones y Contratas SA (FCC.MC) said Monday it has reached a deal
to sell a 51% stake in its energy unit to a small Spanish investment
firm.
As part of the deal, Madrid-based Plenium Partners will pay
eight million euros ($11 million) for the stake and will take on part of
FCC's debt, FCC said in a press release. That will allow FCC to cut
down its overall debt by EUR763.3 million.
In November, FCC had said it planned to close the year with a
debt level below EUR6 billion, down from EUR6.577 billion as of Sept.
30.