Spanish construction company Sacyr Vallehermoso has agreed to sell its one-third stake in French rival Eiffage to local institutional investors for EUR 1.96bn, or EUR 63 per share. The sale, which ends a year-long battle for control of Eiffage, will be completed 'as soon as possible', Sacyr said in a statement to the Spanish stock market regulator CNMV. The Spanish builder did not reveal the names of the buyers.
Spanish construction company Sacyr Vallehermoso has agreed to sell its one-third stake in French rival Eiffage to local institutional investors for EUR 1.96bn, or EUR 63 per share. The sale, which ends a year-long battle for control of Eiffage, will be completed 'as soon as possible', Sacyr said in a statement to the Spanish stock market regulator CNMV. The Spanish builder did not reveal the names of the buyers.
Earlier this year, Sacyr said it was willing to accept any offer for its 33% stake in Eiffage after its takeover bid for the company failed in 2007. The takeover bid eventually ended up in court with the French stock market regulator ruling that the Spanish shareholders were acting in concert to buy Eiffage.
