Date: September 18, 2023 Time: 23:15:24
Sacyr completes the sale of 45% of an Irish highway for 20 million euros. The group has carried out the sale of N6 Bestinver Infra, a fund of Acciona’s investment manager, as reported by the company in a statement. The operation, announced last May and now executed through Sacyr Concesiones, gives the concession an enterprise value (equity plus debt) of 45 million euros, so 45% of it is equivalent to about 20 Millions of euros.
Sacyr defends that the sale of this stake falls within its policy of rotating mature, non-strategic assets and minority stakes, assuming in this case the company’s exit from the concessions business in Ireland.
The N6 motorway, 56 kilometers long and two lanes in each direction, connects Dublin with Galway. The concession was put into operation in 2009 by a consortium made up of Sacyr and FCC for 288 million euros, and the contract will end in 2037.
The two companies built the highway in a period of thirty months, three months less than the execution period established in the contract they signed in 2007 with the National Roads Authority of Ireland.
Sacyr Concesiones occupies third place in the world ranking in transportation infrastructure concessions, according to PWF magazine, currently managing a diversified portfolio of 69 projects around the world.
In 2023, the company has made a qualitative leap in its expansion in the United States, where in July it was awarded, together with Plenary and Acciona, the design, construction, maintenance and operation of a section of the I-10 interstate highway in Louisiana.