Terra Firma is to sell the waste disposal business of Waste Recycling Group to FCC of Spain for £1.4bn. The acquisition is the largest ever made by FCC ( Fomento de Construcciones & Contratas) and will be financed with debt. It is expected to increase FCC's turnover by 12% and EBITDA by18%. Rafael Montes, CEO iof FCC, explained that "This is an operation of great import for the future because of its impact on earnings and [our] international development." It is the seventh acquisition FCC has made in the last few months, and Montes announced that the company will be continuing to look for more opportunities throughout Europe as it seeks to double its turnover to EURO 12bn. FCC already operates a waste collection business in the UK, and expects that the acquisition of Waste Recycling Group will complement this.