Sacyr Concesiones has announced the sale of a 20% stake in its Puerta de Hierro en Majadahonda (Madrid) hospital concession to Dutch infrastructure investor DIF.

The total value of the transaction is €55 million, which includes the value of the equity and the debt associated to the project.

The concession contract for the new Puerta de Hierro teaching hospital was awarded by the Madrid Regional Government to the Bovis Lend Lease- Dragados (ACS Group) – Sacyr consortium on 18th of March of 2005.

The project includes the financing, design development, construction and provision of hard and soft facilities management services for the new facility to replace the existing Puerta de Hierro Hospital and serves a local population of 520,000 people.

The new Hospital has a total built area of 242.000 m2, distributed as follows:

• 167,000 m2 for Hospital area and ancillary services distributed in 12, four storey modular buildings
• 75.000 m2 of deck parking for 3000 cars.

The project started operations in 2008.

Sacyr said this transaction is framed within its strategy of assets rotation to invest in new projects.

In March 2014 Sacyr sold a 49 % stake in two Spanish hospital concessions, the Hospital Infanta Cristina and the Hospital del Henares, to Lloyds Bank European Infrastructure Partners L.P. (LBEIP).