Sacyr Explores Divestments to Speed Debt-Cutting Goal
- Spanish infrastructure firm seeks sale of 49% of services unit
- Sacyr is also looking for partner for 49% of Sacyr Water
A builder moves steel framework in a building constructed by Sacyr SA in Barcelona, Spain.
Photographer: Pau Barrena/Bloomberg
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Spanish infrastructure firm Sacyr SA said it would explore divestments, including the sale of 49% of its services unit, to focus on its core concession business and fast-track its goal to cut debt.
The company will also seek an investment partner for 49% of Sacyr Water to speed up the unit’s growth, the firm said in a filing with regulators Wednesday. Sacyr said it will continue to “rotate” non-strategic or minority stakes in its public-private partnership, or P3, assets to balance its portfolio geographically.