Freshfields on the 25% purchase of FCC Medio Ambiente valued €1bn
Freshfields has advised Canada Pension Plan Investment Board (CPPIB) on the acquisition of 25% of the share capital of FCC Servicios Medio Ambiente Holding (FCC Enviro) from Fomento de Construcciones y Contratas (FCC) valued at €1bn. CPPIB is a Canadian-based government pension fund that invests in private equity and real estate through external funds and direct investments.
The Canadian pension fund acquired a stake in FCC Enviro in 2023 when it purchased 24.99% of the company for €965m, a transaction in which Freshfields also acted as legal advisor. Following completion of the transaction, CPPIB will indirectly hold 49.99% of the share capital of FCC Enviro and FCC will hold the remaining 50.01%.
Advisors
The transaction was led from Madrid by partner Armando Albarrán, together with senior associate Mario Pacini (both pictured from left to right), associate Alberto Broseta and trainee Xabier León. From the finance department, partners Aled Batey and Ana López and associate Inés Colás participated. Partner Bosco Montejo and senior associate Álvaro Fernández advised in relation to tax regulations. Of counsel Ignacio Borrego and associate Pilar Aguilar have advised on Spanish regulatory aspects of the transaction. From Amsterdam, partners Paul Van Den Berg and Álvaro Pliego, together with associate Rosa Warning, provided advice on competition law issues.
