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SBD Global/October 28, 2013/Marketing and Sponsorship
Microsoft Pursuing Partial Title Sponsorship Of Real Madrid's Santiago Bernabéu Stadium
Published October 27, 2013
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GATES INVESTS IN FCC: The WALL STREET JOURNAL's Román & Bjork reported that Gates paid $148.4M for "a nearly 6% stake" in FCC last week. It was "the latest of several deals showing that long-depressed Spain is back on the global investment map." Gates' investment makes him FCC's second-largest shareholder in a company that "employs 80,000 people in 56 countries but derives just under half of its revenue from Spain." Gates is "following in the footsteps of tycoons including Warren Buffett and Carlos Slim, who have recently picked up Spanish assets on the cheap, betting that Spain is turning a corner after a grinding six-year downturn." Spanish Industry Minister José Manuel Soria said that Gates' investment, while "modest in monetary terms, demonstrates a symbolically significant increase in the 'trust and credibility' in Spain among foreign investors." Spanish investment firm Arcano partner Ignacio de la Torre said that with FCC, Gates is placing a bet on "the conservative government's recent policy initiatives to jump-start Spain's economy by making it easier to launch companies as well as hire and fire employees" (WSJ, 10/22).