UPDATE 1-FCC shareholder agrees rights issue deal with Mexico's Slim - report

miércoles 26 de noviembre de 2014 13:09 GYT

* Esther Koplowitz seals last-minute deal with Carlos Slim

* Koplowitz's FCC stake would fall to 23.5 percent

* FCC shares rise on hopes for a deal (Adds background and shares)

MADRID, Nov 26 (Reuters) - The main shareholder of Spain's FCC has reached a deal with Mexican billionaire Carlos Slim to hand over its rights in a capital hike, El Confidencial said, paving the way for FCC to raise 1 billion euros ($1.25 billion) to pay off debt.

The investment vehicle of Esther Koplowitz, daughter of the founder of FCC, will see her share in the building and services company fall to 23.5 percent from its current 50 percent, the online newspaper said on Wednesday, citing sources close to multiple ongoing talks.

FCC declined to comment and no-one at Esther Koplowitz's investment vehicle, B-1998, was immediately available to comment on the report.

Hopes for a deal boosted FCC's shares before the market closed, ending 3.064 percent higher at 15.305 euros, the top gainer on Spain's blue chip index.

FCC, with a market value of 1.9 billion euros, is one of Spain's biggest building and services companies but has been suffering from debt problems since a construction boom collapsed six years ago.

It needs proceeds from the rights issue to pay down part of a high-interest 6.4 billion euro syndicated loan. Carlos Slim is expected to subscribe to half of the capital hike, El Confidencial said. (1 US dollar = 0.7992 euro) (Reporting By Sonya Dowsett and Carlos Ruano; Writing by Tracy Rucinski; Editing by Julien Toyer and Elaine Hardcastle)