Soros Hires Cuatrecasas Lawyers With an Eye to Entering FCC
24/06/2014 – Expansion
George Soros has singed a contract with lawyer office Cuatrecasas seeking local assistance at analyzing the purchase of Esther Koplowitz´s debt owed to BBVA and Bankia. Koplowitz controls the firm with a 50.1% stake through B-1998. The €1 billion indebtness shall be refinanced by August, otherwise the lenders will seize parts of the stake in virtue of guarantee execution.
The banks do not strive at dragging the businesswoman (and her family) to ruin as they are ready to transfer the debt to other, new investors. At the moment, the most relevant seems to be George Soros who disposes of the necessary funds to rescue the construction company.
In December, the billionaire bought 3.8% stake at FCC and by realizing another capital injection, he might even take control over the firm.
Original article: Expansión (by D. Badía & C. Morán)
Translation: AURA REE