Sacyr, through its subsidiary Sacyr Concessions, together with Toesca Infraestructura SC Investment Fund, has concluded, according to what was previously established, the signing of the sale of 49% of seven concession assets that the infrastructure company holds in Chile.
The amount of the transaction, including the debt associated with the disposed participation, amounts to 500 million dollars and was completed this morning with the signature of both parties.
Sacyr will allocate part of the funds obtained in this transaction to reduce its corporate debt. This was one of the most significant commitments of the company’s Strategic Plan for 2015-2020. In addition, this partial divestment enables the company to finance new projects in Chile, such as the Los Vilos-La Serena highways, recently awarded. Américo Vespucio Oriente (AVO I), and Arica Airport are not part of this agreement.
Sacyr will continue to control and manage the seven assets included in the operation, so it will maintain their global consolidation in the accounts. This way, the partial sale will not have an accounting effect. The assets included in the agreement are five highways, totaling 701 kilometers, Antofagasta Hospital, with 671 beds, and El Tepual Airport in Puerto Montt.
Sacyr in Chile
The presence of Sacyr in Chile goes back 23 years, when the first contract was awarded in 1996 to build and operate the Los Vilos-La Serena highway, at the beginning of the Concession System.
Since then, it has invested about 6,500 million dollars in several projects, 13 of them concessioned routes that represent more than 1,500 km of road. In terms of hospital infrastructure, 6 hospitals have been awarded, totaling more than 2,400 beds and almost 629 thousand m2.
