Spanish infrastructure company Sacyr has launched the sale process of a 49% stake in its Chilean subsidiary Sacyr Concesiones. It has hired BTG Pactual Chile as financial advisor to the transaction.

Sacyr Concesiones owns contracts for six roads, a hospital in Antofagasta and the El Tepual airport in Puerto Montt.  It has been confirmed that there are both national and foreign entities have expressed interest, with offers expected to range from US$200 to 400 million.

Initial non-binding offers are to be finalised by late September. The sale is expected to close early next year.