Sacyr, through its affiliate Sacyr Concesiones, has reached an agreement to sell 47.5% of its stake in Guadalcesa, the concessionaire that manages the Guadalmedina highway (AP-46 Málaga – Las Pedrizas) to Core Infrastructure II, company which belongs to a fund managed by Mirova.

Last year Sacyr sold 47.5% of Guadalcesa to Aberdeen. This transaction has closed now. 

The amount of the divestitures of both transactions amounts to a total of approximately EUR 455 million (US$ 496.57 million), including debt associated with the shares sold. The latest sale is subject to authorization from the Competition Authority. 

Sacyr will allocate part of the funds obtained from this transaction to reduce its corporate debt. This was one of the most significant commitments of the company’s Strategic Plan for 2015-2020. 

Sacyr will keep a 5% stake in the highway concession and will continue to operate and maintain it.