Sacyr S A : completes sale of Facilities to Serveo to focus on the P3 business
December 01, 2023 at 07:57 am EST
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MEDIA RELEASE
SACYR COMPLETES SALE OF SACYR FACILITIES TO SERVEO
TO FOCUS ON THE P3 BUSINESS
Sacyr received €90 million for Sacyr Facilities, its services unit, in a shift to focus its strategy on infrastructure P3 development.
Madrid, December 1, 2023.- Today, Sacyr successfully completed the sale of Sacyr Facilities to Serveo. This divestment, short after the divestment from Valoriza Servicios Medioambientales in October, is part of the company's strategic goal to drastically reduce its recourse net debt and focus on the infrastructure P3 management business as its core activity.
The price of the 100% shares sold received by Sacyr amounts to €90 million euros. Since the signature of the sale and purchase agreement back in July, the price of Sacyr Facilities' shares has increased as a result of price adjustments, mainly due to prior repayment of the company's total financial debt and the collection of some claims.
Furthermore, Sacyr, may also receive additional earn-outs valued at approximately €15 million, depending on the success of several claims currently in process.
Sacyr Facilities encompasses the facility management and maintenance branch and at-home care and care home services branches through Sacyr Social.
Divestment plan
Last October, Sacyr completed the sale agreement over 100% of its Valoriza Servicios Medioambientales stock to Morgan Stanley Infrastructure Partners for a €734 million enterprise value (including equity and debt).
This transaction enables the acceleration of two major objectives in the 2021-2025 Strategic Plan: a drastic reduction of the company's recourse net debt and focusing on the P3 business as the Company's core activity.
€3.25 billion asset value
Sacyr, with P3 assets valued at €3.25 billion, focuses on transport (roads, airports, harbors, rail, metro), social (hospitals, universities, public administration buildings) and water (integrated water cycle, desalination, purification, and recycling) infrastructure development and management under public-private partnerships.
Sacyr SA published this content on 01 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2023 12:56:14 UTC.
Sacyr, S.A. is a building and public works group. Net sales (including intragroup) break down by activity as follows:
- industrial site,s infrastructure and building construction (49.4%);
- management of infrastructure under concession (32.3%): airports, roads, hotels, offices, shopping malls, etc.;
- services (17.1%): maintenance and cleaning of buildings, construction and installation of water pipeline systems and gas emission reduction systems, waste and wastewater collection and treatment, etc.;
- other (1.2%).
66.1% of sales are abroad.
SACYR, S.A. 
