FCyC, S.L. made a tender offer to acquire an additional 24% stake in Metrovacesa S.A. (BME:MVC) for approximately €280 million on March 23, 2022. Under the terms, 36,402,322 will be acquired at a price of €7.80 per share. Currently FCyC holds 5.4% stake in Metrovacesa and post acquisition stake will increase to 30%.

Santander and BBVA holds 49.3% and 20.85% stake in Metrovacesa respectively. As of May 26, 2022, The Council of the National Securities Market Commission (CNMV) has authorized the transaction. Alberto Alonso , Antonio Roncero and Miguel Sánchez of Ecija Abogados acted as legal advisor to Fomento de Construcciones y Contratas.

Gabriel Nuñez of Uría Menéndez Abogados, S.L.P. acted as a legal advisor to Metrovacesa S.A. Metrovacesa appointed BofA Securities to provide a fairness opinion on the fairness, from a financial point of view, of the operation for the company's shareholders. Esteban Arza of Linklaters Madrid Advising Bank of America, as financial advisor of Metrovacesa S.A.'s Board of Directors. Lucas Osorio of Hogan Lovells acted as legal advisor to Metrovacesa S.A.