Gates Buys 6% Stake In EU Construction Co. For $154M

Law360, New York (October 22, 2013, 6:10 PM EDT) -- Bill Gates, the world's richest man, bought 6 percent of Fomento de Construcciones y Contratas SA for €113.5 million ($153.6 million), making a bet, like many other investors, on a resurgent European economy and real estate sector, the Spanish construction company announced Tuesday.

Spain's economic troubles made worse by uncertainty in the eurozone caused FCC's stock to decline in price in the past few years, making it an attractive buy for investors who believe in its future resurgence. With the purchase, Gates became FCC's second-largest shareholder....
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