Sacyr continues with its strategy and reinforces its divestment plan. As reported by the construction group to the National Securities Market Commission (CNMV), the company has signed an agreement for the sale of 100% of Sacyr Facilities SAU to Grupo Serveo S.L. As announced by the company, this divestment allows to accelerate two major objectives of the 2021-2025 strategic plan that focuses on the concession business as the Company’s main activity and the reduction of net debt with recourse.
In the document, Sacyr assures that the perimeter of the transaction excludes the integral maintenance contracts of the Antofagasta Hospital in Chile and several Police Stations in Spain, which will continue to be managed by Sacyr. In addition, they state that the amount of the divestment amounts to a total of 87 million euros company value, (including debt and equity). The gross operating result of Valoriza Facilities that is in the perimeter of this sale reached 13.7 million euros in 2022.
On the other hand, the value of the shares (equity) of the operation amounts to approximately 76 million euros, and the purchase agreement contemplates that Sacyr will receive variable amounts (earnouts) valued at approximately 15 million euros, depending on the success of several claims currently under management.
Sacyr has indicated to the regulatory body that the execution of the operation is subject to compliance with certain suspensive conditions that are usual in this type of operations (competition, authorization of financial institutions, etc …) and is expected to take place in the 4th quarter of this 2023. The transaction is also expected to produce capital gains of approximately €40 million before tax.
This subsidiary is specialized in the provision of Facility Services, integrating several business lines such as Facility Management; comprehensive maintenance of facilities; energy services; auxiliary services; Special Employment Centre. “Our experience in Facility Services allows us to bring professionalism to the management and provision of services by offering innovative and comprehensive solutions to our customers. We work for and for the continuous improvement of quality in our daily activity”, they indicate on the company’s website.