IFM buys 49% stake for €1.02bn from Fomento de Construcciones y Contratas S.A.: The Australian industry fund-owned IFM Investors has agreed to buy a 49% stake in the Spanish water management company, FCC Aqualia SA, for €1.02bn from Fomento de Construcciones y Contratas S.A. FCC Aqualia is the fourth-largest water management company in Europe, with 23% market share of Spain’s water management market. The Melbourne-based fund manager, which manages more than AUD100bn (€62.7bn) in infrastructure assets globally, has 15 years’ experience in the sector. FCC Aqualia is the FCC parent company for end-to-end water management.