Sacyr, through its affiliate Sacyr Concesiones, has reached an agreement to sell Core Infrastructure II, company which belongs to a fund managed by Mirova, 47.5% of its stake in Guadalcesa, the concessionaire that manages the Guadalmedina highway (AP-46 Málaga – Las Pedrizas).
The amount of the divestitures, in addition to the one made to Aberdeen for another 47.5%, amounts to a total of approximately 455 million euros, including debt associated with the shares sold. The sale is subject to authorization from the Competition Authority.
Sacyr will allocate part of the funds obtained from this transaction to reduce its corporate debt. This was one of the most significant commitments of the company’s Strategic Plan for 2015-2020.
The asset will continue to be managed and operated by Grupo Sacyr through a service
agreement but will no longer consolidate in its balance sheet, resulting in a capital gain of approximately 80 million euros.
Málaga – Las Pedrizas Highway
The Guadalmedina highway (AP-46) connects Alto de las Pedrizas to Málaga, it is a 28 km high-capacity road that passes perpendicular to the coast of Málaga and serves as a connection road between the interior of the province and the coast.