Sacyr completes the sale of 95% of the AP-46 and adds 80 million in capital gains

  • The funds obtained will be used to reduce the debt of the construction group
  • The communication was the first of privileged information thus consigned to the CNMV

Sacyr Concessions has completed the sale of 95% of the AP-46 motorway (Málaga), after the acquisition by Core (Mirova fund) of 47.5% of the assets, which will bring about capital gains of 80 million euros, after entering 455 million including the associated debt.

Parallel to this agreement, the Sacyr subsidiary announced this Tuesday in the first privileged information that a Spanish listed company sends to the National Securities Market Commission (CNMV) that it has received the go-ahead to execute the sale to the Aberdeen fund of another 47.5% of the aforementioned Autopista del Guadalmedina (AP-46), which was agreed last October for an initial 220 million.

After the sale of these two packages, for 47.5% of the capital of the AP-46, Sacyr 5% is reserved and infrastructure management.

The execution of the recent transmission agreement to Core is subject to compliance with the usual conditions precedent in this type of transaction, Sacyr has reported. The funds obtained will be used for the partial reduction of corporate debt and they will not have an accounting impact on the group’s accounts, added the same source.

The operations described are part of the policy of rstock of mature assets of Sacyr, which will also help develop new concession projects, one of the pillars on which the company wants to base its growth.

The Guadalmedina highway (AP-46), which connects Alto de las Pedrizas with the city of Malaga, is a 28-kilometre high-capacity road that connects the interior of the province with the coast. The average daily intensity (ADT) of this road in 2019 was 13,722 vehicles, compared to 13,116 vehicles in 2018.