Sacyr, S.A. (VHM.F)
- Reuters
Sacyr's nine-month profit soars 36% on motorway concessions
Spanish construction firm Sacyr said its net profit in the first nine months of the year rose 36% as expected by analysts, thanks to its inflation-linked toll road businesses. Sacyr posted a 92.4 million euros ($98.18 million), during the period, while its earnings before interest, taxes, depreciation and amortisation (EBITDA), a measure of operating profitability, grew 12% to 980 million euros. Its highway concessions contracts, a business the company seeks to turn into its core activity, accounted for 90% of its EBITDA.
- Reuters
Sacyr agrees to sell waste management unit to Morgan Stanley Infrastructure
The deal, reported by Reuters on Sunday, values Valoriza Servicios Medioambientales at 734 million euros ($788.83 million), including debt and equity, Sacyr said in a filing to the stock market regulator. Sacyr is now evaluating some bids for its facility services unit and plans to seek a partner for its water subsidiary before the end of 2023, a person familiar with the talks told Reuters. Sacyr received 15 offers for its two facility and environmental services units, according to the source.
- Reuters
UPDATE 1-Sacyr agrees to sell waste management unit to Morgan Stanley Infrastructure
Spanish construction firm Sacyr said on Monday it had agreed to sell its waste management unit to Morgan Stanley Infrastructure Partners, the first step in a divestment plan that aims to switch focus to its profitable concession business. The deal, reported by Reuters on Sunday, values Valoriza Servicios Medioambientales at 734 million euros ($788.83 million), including debt and equity, Sacyr said in a filing to the stock market regulator. Sacyr is now evaluating some bids for its facility services unit and plans to seek a partner for its water subsidiary before the end of 2023, a person familiar with the talks told Reuters.
