Sacyr sells its remaining 2.9% stake in Repsol, completely divesting from its stock

  • This operation is part of Sacyr’s 2021-2025 Strategic Plan, which focuses on its consolidation as a leading developer and operator in the P3 sector.
  • The appreciation of Repsol’s shares has allowed that the operation turns positive accounting results of €58 million and a reduction of the associated financial debt by €563 million.

Sacyr has sold all its shares in Repsol that the company still owned after the last communication to the CNMV (2.9% stake).

The sale operation was possible due to the increase in the price of Repsol shares in the past days, compensating for the cost of the liquidation of the derivatives of PUT options that acted as an insurance for the participation. The sale reduces the debt associated to the shares by €563 million, leaving Sacyr with a positive accounting result of €58 million, which will be allocated to reducing net recourse debt and focusing on its P3 investment plan.

This operation fulfills one of the goals in Sacyr’s 21-25 Strategic Plan, which consisted of improving the visibility of the company’s balance and the prevision of its accounting results.

Thanks to this Plan, Sacyr will reinforce its P3 profile, which currently makes up for 83% of the company’s EBITDA; reduce net recourse debt (that this operation helps to); increase its shareholder remuneration; and incorporate sustainability into its value chain.

Once completed the divestment from Repsol, Sacyr will focus with even greater determination on accomplishing the rest of the goals in its Strategic Plan and on its consolidation as leading developer and operator of P3 globally.

Sacyr gives its total support to Repsol’s business strategy and climate change policies.

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