SACYR: TO SELL 49% OF ITS SERVICES AND WATER DIVISIONS (ANÁLISIS BANCO SABADELL)
At yesterday’s closing bell the company announced it will actively study the divestiture of 49% of its Services division, as well as the incorporation of a minority partner into its Water division that will hold a 49% stake, aimed at speeding up the division’s growth. SCYR expects both processes to be completed next year and it will use the proceeds to reduce recourse debt to zero (€ 767 M as of 1H’22; guidance €Sacyr is the parent company of a group engaged in the acquisition, development and construction of urban properties for their subsequent rental or resale. Co. primarily leases and sells office buildings and complexes, housing units, and shopping centers. Co. is also engaged in the operation of urban car parking facilities. Co. offers services related to the real estate industry such as technical assistance in energy savings, inventory management, architectural design, telecommunications management, property maintenance, as well as gardening and landscaping. Co. also provides consulting services in the real estate fund management sector.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.