- The assets included are five highways, the Hospital de Antofagasta and the El Tepual Airport
- The funds obtained will be used to partially reduce corporate debt
Sacyr, through its subsidiary Sacyr Concesiones, has reached an agreement for the sale to the Toesca Infraestructura fund of 49% of their participation in their concessions in Chile for an amount close to 440 million euros.
The assets included in the agreement are five highways, which add up to 701 kilometers, the Antofagasta Hospital, with 671 beds, and the El Tepual Airport.
As reported by the company this Monday, the amount of the transaction includes associated debt to the sold share.
The funds obtained by Sacyr with this transaction will be used to partially reduce corporate debt, one of the commitments acquired by the company in its strategic plan 2015-2020.
In addition, this sale will allow it to finance other projects in Chile, such as the Los Vilos-La Serena highway, recently awarded; the Américo Vespucio Oriente (AVO I), under construction, and the Arica and Puerto Montt airports, as well as participating in new tenders within the Chilean concession plan.
Sacyr will continue to control and manage the seven assets included in the operation, therefore they will maintain their global consolidation in the accounts, without, therefore, having an accounting effect.
The execution of this operation is subject to compliance with the usual conditions precedent in this type of transaction, including obtaining authorization from the competition authorities.
Sacyr, what has been operating in Chile for more than 20 years, foresees that the operation will be formalized next July, before the expiration of the agreed term for the fulfillment of the precedent conditions.