Sacyr completes the sale of Valoriza Servicios Medioambientales to Morgan Stanley Infrastructure partners

  • Sacyr, which has received €420 million for the shares of its services unit, focuses its strategy on the development of P3 projects.

Sacyr has completed the sale of 100% of its services unit, Valoriza Servicios Medioambientales (VSM), to Morgan Stanley Infrastructure Partners.

This divestment, announced in June, corresponds to Sacyr’s strategic objective to drastically reduce its recourse debt and focus its activity on P3 infrastructure projects.

The shares sold totaled €420 million for Sacyr and the enterprise value of VSM (including debt and equity) amounts to approximately €734 million.

Valoriza Servicios Medioambientales reached an EBITDA of €80 million in 2022.

The company is in the process of selling its Sacyr Facilities unit to Serveo, with whom it reached a sales agreement in July.The transaction assigns Sacyr Facilities an enterprise value of €87 million and an equity value of €76 million. In addition, Sacyr may receive up to €15 million depending on the success of the various claims currently in progress.

Morgan Stanley Infrastructure Partners (“MSIP”)

is a leading global private infrastructure investment platform with over $16 billion in assets under management[1]. Founded in 2006, MSIP invests in a diverse portfolio with 30+ investments in transport, digital infrastructure, energy transition and utilities. MSIP targets assets that provide essential public goods and services with the potential for value creation through active asset management. For further information about Morgan Stanley Infrastructure Partners, please visit www.morganstanley.com/im/infrastructurepartners.

[1] AUM reflects assets managed by MSIP platform since inception.

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