Problems are piling up for the FCC (Fomento de Construcciones y Contratas), an international leader in environmental, infrastructure and renewable energy resources, because of its 5 billion euro debt load. This debt should be refinanced shortly. The bank providing the loan is putting pressure on FCC to move its 2013-2015 strategic plan to deploy a series of divestments. The plan is spearheaded by managing director Juan Béjar.
Up until now, the process has earned the company 1 billion euros the 2.2 billion expected. This figure is inflated, because in reality 600 million euros come from splitting off debt from one of its subsidiearies, Alpine.
The situation could get trickier as FCC has to inject more capital into Portland Cement and Globalvia. To escape the mounting problems, FCC needs to act fast.
