Intermoney| Sacyr (SCYR) announced on Monday, after market close, that it has completed the sale of 45% of the Irish N6 motorway concession to Bestiver Infra. The transaction amounts to €45 million in EV, or €29 million in equity; Sacyr states that the multiple of the transaction exceeds 2x times invested capital. The deal had been announced last May. The N6, which was inaugurated in 2009 and expires in 2037,…
Intermoney : Sacyr (SCYR) (Buy, PO 4.0 €), as reported on Thursday by the Group with the market open, together with its Italian partner Fininc, has been awarded the construction of a railway line in Catania (Sicily). The project, by Metropolitana Circumetnea, envisages the design and execution of a 10.6 km route between the Misterbianco station and the Ardizzone tunnel, with an investment of around €532 million. In total, the…
Link Securities| Both companies submitted binding bids on Monday for the concession contracts to rehabilitate, maintain and operate four motorways in Puerto Rico, in a deal valued at more than €2 billion, the digital newspaper elEconomista.es reports today. Both Abertis and Sacyr, which declined to confirm their participation, were shortlisted last year by the Public-Private Partnerships Authority (AAPP) to compete in the final bidding for the privatisation of motorways PR-52,…
Sacyr has just announced the sale of 100% of its environmental services business (Valoriza Servicios), for an enterprise value of €734 million, to a company owned by funds managed by Morgan Stanley Infrastructute Partners. The value of the equity is estimated by Sacyr at €425 million, and the transaction is expected to close in 4Q of this year. The capital gains generated are estimated at €270 million. The company states…
Intermoney | Sacyr has received up to 15 bids for its services business, currently in the process of being sold, according to Cinco Días newspaper. Specifically, the businesses affected are Valoriza Servicios, dedicated to environmental activities, and Sacyr Facilities, focused on maintenance of buildings and facilities. The company expects to complete the process in about three months. Cinco Días reports that the sale price for 100% of these businesses would…
Intermoney | Results 9M 2022e on 7 November – EBITDA +26%, still reflecting the impact of costs in construction. Sacyr will announce its results on Monday 7 November before the market opening, with a conference call at 1300. We expect the company will have continued with the growth seen in past quarters. However, this will have relaxed vs H1’22 due to the impact of the rise in costs and more demanding…
Intermoney | Sacyr (Buy, Target Price 3,4 euros/share) has won the concession to improve and finish a dual carriageway running between the Colombian municipalities of Buga and Buenaventura, according to the daily Cinco Dias. The investment will be 900 million euros. The length of the new stretch of road is 128 km, and it will be complemented with other works and maintenance jobs on other roads, for a total of 244…
The National Markets and Competition Commission (CNMC) has fined six of Spain’s leading construction companies 203.6 million euros for having altered thousands of public tenders for building and civil works infrastructure contracts over 25 years. The companies penalised are Acciona, Dragados, FCC, Ferrovial, OHLA and Sacyr. According to the CNMC, between 1992 and April 2017, the construction companies met weekly to analyse tenders for works carried out by the various…
The construction company Sacyr – which hopes to return to the selective Ibex 35 on the 9th – has sold its stake in Repsol 16 years after its entry. At that time, the Sacyr Group invested over 6 billion euros in 20% of the capital, at an average price of 26.71 euros. According to the company, the sale operation has been possible thanks to the increase in the price of…
Sacyr’s selling its construction subsidiaries in Angola, Mozambique and Cape Verde is part of firm’s strategy to reduce the risk of building in non-strategic markets and to focus on concessions in its key markets. This activity already accounts for nearly 80% of the group’s EBITDA. According to analysts at Alphavalue, Sacyr, with a capitalization of just around €800 M, has been “the most resilient” company in the concessions’ sector during the confinement thanks to the type of contracs it has signed.