The co-founder of multinational software firm Microsoft, Bill Gates, has bought a six per cent share in FCC Environment’s parent company, Fomento de Construcciones y Contratas S.A. (FCC).
In a statement earlier this week, FCC confirmed it had sold 7.6 million shares (equivalent to six per cent of capital) to the fund related to William H. Gates III.
The transaction, made on 18 October, reportedly totalled € 114 million (£97 million). FCC has said that although this transaction represents an ‘increase in the shareholders' equity of Fomento de Construcciones y Contratas S.A. by the amount transferred’, there is no impact on income for the year. Following the transaction, FCC’s share price lifted by eight per cent.
There are now over 242,000 shares in treasury stock, equivalent to 0.19 per cent of capital.
The Spanish construction company, parent to the recycling and resource management company FCC Environment, has recently expanded its operations in the UK after winning a number several major infrastructure projects, including the £600 million Mersey Gateway bridge and a £280 million motor racing circuit in Wales.
Read more about FCC.
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How will the government and DMOs address the challenges of including glass in DRS while ensuring a level playing field across the UK?
There's no easy solution to include glass in the DRS while maintaining a level playing field. Potential approaches include a phased introduction of glass, potentially with higher deposits to reflect its logistical challenges. The government and DMOs could incentivise innovation in glass packaging design and subsidise dedicated return points for glass-handling. Exemptions for smaller businesses unable to handle glass might also be necessary. Any successful solution will likely blend several approaches. It must address the differing priorities of devolved administrations, balance environmental benefits with logistical and cost implications, and be supported by robust consumer education campaigns emphasizing the importance of glass recycling.