Sacyr shortlists four bidders for its service, waste management unit – Expansion
MADRID (Reuters) – Spanish conglomerate Sacyr has shortlisted four firms as potential buyers of its service and waste management unit, valued at around 500 million euros ($552 million), newspaper Expansion reported on Wednesday, citing market sources.
Sacyr has picked investment funds Morgan Stanley Infrastructure Partners, Luxembourg-based Cube Infrastructure Partners and London-based HIG, as well as waste management company Urbaser, Expansion reported.
The shortlisted investors are looking into the accounts of Valoriza Servicios Medioambientales, as the unit is known, and are expected to make formal bids by May 25, Expansion said.
Sacyr declined to comment and none of the four potential buyers immediately returned messages seeking comments.
The divestment plan would bring additional cash to speed up Sacyr’s growth in its concession infrastructure businesses, mainly in continental Europe, Britain, Australia and Canada.
($1 = 0.9054 euros)
(Reporting by Inti Landauro and David Latona; Editing by Tomasz Janowski)