Spanish construction group Sacyr plans to sell its environmental services division to cut its debt which currently stands at EUR 18 bn. Spanish newspaper Expansion reported on Tuesday that the company could raise EUR 1 bn from the disposal. Italian bank Mediobanca is advising the company on the sale process, which the company hopes to complete in the next two months. According to the paper, potential buyers for Valoriza include Spain’s Aguas de Barcelona and the French group Veolia.
Spanish construction group Sacyr plans to sell its environmental services division to cut its debt which currently stands at EUR 18 bn. Spanish newspaper Expansion reported on Tuesday that the company could raise EUR 1 bn from the disposal. Italian bank Mediobanca is advising the company on the sale process, which the company hopes to complete in the next two months. According to the paper, potential buyers for Valoriza include Spain’s Aguas de Barcelona and the French group Veolia.
Sacyr is active in several businesses ranging from construction, housing development, rental business. Last year the company invested about EUR 7 bn to acquire a 20% stake in the energy group Repsol, in an attempt to further diversify its business. Earlier this year Sacyr also sold its stake in the French construction and services firm Eiffage for about EUR 1.9 bn.
