BBVA advises FCC in the disposal of its Latin America waste and water businessJune 10, 2013
BBVA Corporate Finance has acted as exclusive financial advisor to FCC in the second largest M&A transaction in the waste & water industry in Latin America in the last 10 years.
FCC, a global leader in infrastructure and environmental services, has disposed of the 50% of its waste & water management business in Latin America, Proactiva Medio Ambiente, for a total cash consideration of 150 million euro.
This transaction, thanks to which Veolia will control the 100% of the company, is the biggest investment by a French company in Latin America in 2013 and the biggest accquisition by Veolia in Latin America since 2000.
The 50% disposal of Proactiva Medio Ambiente to Veolia is in line with FCC's Strategic Plan to focus on core geographies and activities, and debt reduction.
Founded in 1999, Proactiva Medio Ambiente is a leading environmental services provider with presence in 8 countries of Latin America (Mexico, Ecuador, Colombia, Argentina, Brazil, Venezuela, Chile, and Peru) operating in the waste & water management businesses and serving a total population of c. 40 million of inhabitants.
BBVA Corporate & Investment Banking, awarded "Best Investment Bank in Spain" in the Global Finance Awards 2013, positions itself as reference advisor for FCC, being the disposal of the 50% of Proactiva Medio Ambiente the ninth M&A transaction announced by BBVA in 2013 and the fourth one since 2010 in which BBVA CF has assisted the company in fulfilling its long-term strategy:
- FCC: Financial Advisor in the disposal of Torre Picasso to Ponte Gadea (Amancio Ortega) in 2012
- FCC: Financial Advisor in the sale & leaseback of FCC's headquarters in 2011
- FCC: Financial Advisor in the disposal of the vehicle inspection business to SGS in 2010
BBVA CF has demonstrated once again its outstanding cross-border capabilities, announcing its 41th cross-border transaction since 2010: Renovalia-First Reserve Corporation (2013), Veolia Water Portugal-Beijing Enterprises Water Group (2013), Vueling-IAG (2013), Cementos Portland-CRH (2013), USP Hospitales-Doughty Hanson (2012), Galp-Amorim (2012), REN-Oman Oil (2012), OHL Inima-GS E&C (2012), Galp-Sinopec (2011), Acciona Real Estate-Unibail Rodamco (2011), Ampla-Endesa (2011), YPF-Repsol (2011), CEPSA-IPIC (2011), DECA II-Iberdrola (2010), Endesa Cam-Graña y Montero (2011), FCC Inspection-SGS (2011), ECYR-Enel Green Power (2010), and Talecris-Grifols (2010), among others.