Sacyr sells 49% of seven concessions in Chile to the Toesca infraestructura fund

The operation, with a value of 440 million euros, will enable Sacyr to reduce its corporate debt and obtain funds to continue investing in infrastructure development in Chile.

Madrid, April 8, 2019.- Sacyr, through its subsidiary Sacyr Concessions, has reached an agreement to sell 49% of its stake in seven concession assets in Chile to the investment fund Toesca Infraestructura SC.

The amount of the transaction, including the debt associated with the alienated stake, amounts to 440 million euros. The sale is subject to the usual standards of this type of transaction, including authorization by the Competition Authority. It is expected that the operation will be formalized in July.

Sacyr will allocate part of the funds obtained in this transaction to reduce its corporate debt. This was one of the most significant commitments of the company’s Strategic Plan for 2015-2020. In addition, this partial divestment enables the company to finance new projects in Chile, such as the Los Vilos-La Serena highways, recently awarded, and Américo Vespucio Oriente (AVO I), and the Arica and Puerto Montt airports, awarded few months ago, and bid new awards in concessions plans in Chile .

Sacyr will continue to control and manage the seven assets included in the operation, so it will maintain their global consolidation in the accounts. This way, the partial sale will not have an accounting effect. The assets included in the agreement are five highways, totaling 701 kilometers, the Antofagasta Hospital, with 671 beds, and El Tepual Airport.

Sacyr in Chile

Sacyr began its activity in Chile over 20 years ago, and in these two decades it has developed key infrastructure and hospital projects with an investment around 6,000 million euros.


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