Esther Koplowitz, one of the world's richest women, has paid €916m ($1.1bn) to take control of FCC, the Spanish construction company her father founded 60 years ago.

Koplowitz, who previously owned 52.5% of FCC, has bought the 49% stake owned by Veolia Environnement, the French water treatment company. Veolia, advised by its long-standing adviser Lazard said the sale would reduce its net debt of about €11bn by €1.1bn.