Spanish services and construction firm Sacyr Vallehermoso said on Wednesday that it is willing to sell its 33% stake in French public works firm Eiffage, after its takeover plan for the company failed earlier this year. 'We are open to receiving any offer,' said Sacyr chairman Luis del Rivero, in a conference call following results. Sacyr would get some EUR 500 mln by selling the stake at current market prices.
Spanish services and construction firm Sacyr Vallehermoso said on Wednesday that it is willing to sell its 33% stake in French public works firm Eiffage, after its takeover plan for the company failed earlier this year. 'We are open to receiving any offer,' said Sacyr chairman Luis del Rivero, in a conference call following results. Sacyr would get some EUR 500 mln by selling the stake at current market prices.
The Spanish company's takeover plan, announced earlier this year, finally ended up in courts with the French stock market regulator ruling that the Spanish shareholders were acting in concert to buy Eiffage. Sacyr has appealed the AMF's ruling, but no final decision has yet been made.
Eiffage's chairman Jean-Francois Roverato, who was against Sacyr's takeover attempt, reportedly described Sacyr's shareholders as 'orange-growers and golf players from Murcia.'
Eiffage is a company with a history dating back to 1844.
