fomento de const-unspon adr (FMOCY) Key Developments
Fomento de Construcciones y Contratas, S.A. Auditor Raises 'Going Concern' Doubt
Apr 2 14
Fomento de Construcciones y Contratas, S.A. filed its Annual on Apr 02, 2014 for the period ending Dec 31, 2013. In this report its auditor, Deloitte & Touche LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
ACS and FCC Wins €3.9 Billion Contract to Build Peru Subway Lines
Mar 30 14
ACS and FCC announced that it has been awarded a €3.9 billion ($5.4 billion) contract to build and operate a subway line in Peru's capital. The project will build Metro Line 2 in Lima and a branch off Line 4 to reach the city's international airport. It will cover 27 kilometres (16.7 miles) and include 27 stations serving 600,000 travellers daily.
FCC Secures a Contract to Build a 50MW Hydro Plant
Mar 25 14
FCC secured a contract to build a 50MW hydro plant for Italian renewable energy company Enel Green Power in Costa Rica. Located outside of San José, in the town of Chucás, the plant is scheduled for completion in May 2015. It will include a 50m-high, 230m-long dam designed to hold 190,000m3 of water, as well as a spillway, access roads and a bridge over the reservoir.
Orion Capital Managers LP and AEW Europe Reportedly In Talks To Acquire Realia Business, S.A.
Mar 18 14
Orion Capital Managers LP and AEW Europe are the final bidders for a 61.9% controlling stake in Realia Business, S.A. (CATS:RLIA) as per two people with knowledge of the matter. 25% stake of Bankia, S.A. (CATS:BKIA) and 36.9% stake of Fomento de Construcciones y Contratas, S.A. (CATS:FCC) in Realia will be sold in the potential deal. Goldman Sachs Group, Inc. is believed to be acting as financial advisor to FCC and Bankia.
FCC Wins EUR 506 Million Metro Section Construction Order in Qatar
Mar 13 14
FCC has won a EUR 506 million (USD 706.2 million) contract for the construction of a section of the Doha Metro in Qatar. The contract envisages the construction of three elevated stations and a 6.97 km-long (4.3 miles) section. The construction works are expected to be completed in 31 months and the number of jobs created is envisaged at some 1,000.