Press release on arbitration award on Panama Canal advances
In relation to the award notified yesterday by the International Chamber of Commerce (ICC) of Miami, Sacyr wishes to state the following:
Today, December 13th, Sacyr, as a shareholder of GUPC, has fulfilled its obligations under the award that was announced yesterday.
The contract between GUPC and ACP stipulated June 2018 as date for refunding the advances. GUPC nevertheless sought arbitration to align the refunds of those advances with the resolution of the technical arbitrations.
The award does not affect the merits of the case in the technical arbitrations, which are pending resolution.
Compliance with the award by Sacyr will have no effect on its income statement or on the shareholder remuneration policy.