August 12, 2015 / 4:48 PM / 2 years ago

Creditors swoop on Bankia, FCC's Globalvia unit

MADRID, Aug 12 (Reuters) - Spanish builder FCC on Wednesday said creditors of its infrastructure unit Globalvia had taken over the company, scuppering a deal struck in July to sell it to a Malaysian investment fund.

Creditors of Globalvia, which is co-owned by lender Bankia , had exercised their preferential right to buy its shares, FCC said in a statement to the stock market regulator.

Malasia Khazanah Nasional Berhad had been due to buy Globalvia for up to 420 million euros ($469.7 million), but the deal was conditional on Globalvia’s bondholders, USS, OPTrust and PGGM giving their approval, FCC had said in July.

$1 = 0.8941 euros Reporting by Sarah White, Editing by Adrian Croft

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