Sacyr completes divestment to fuel P3 push

Credit: Sacyr

Spanish giant Sacyr has completed the sale of its services business as it looks to supercharge P3 plans.

Morgan Stanley Infrastructure partners will pick up Valoriza Servicios Medioambientales for $442m (€420m).

According to Sacyr, the funds will “drastically reduce its recourse debt” and allow it to “focus its activity on P3 infrastructure projects.”

The firm is also in the process of selling its facilities arm to Serveo for $91m (€87m).

Sacyr's P3 push was delt a blow last month when the Louisiana Department of Transportation’s Calcasieu P3 project procurement, which the firm was part of its preffered bidder, failed to get approval from officials.