Sacyr Sells Stake in Chilean Concessions

Spanish construction company Sacyr has decided to sell 49% of two Chilean motorway concessions to the family offices of Chilean retailer Falabella group. The stakes were sold for a combined EUR177.2m ($231.2m), Sacyr says. Corso and Auguri, both part of the Falabella group, paid EUR120.7m for a stake in the Concepcion-Cabrero motorway concession and EUR56.5m for the Accesos a Iquique motorway. Officials at Falabella and Sacyr could not immediately be reached for comment. In November, the construction company secured a EUR276m financing agreement with Chile’s Corpbanca to fund construction of its motorways. On another front, earlier this month Sacyr sold a 20% stake in Repsol back to the energy company and was left with a 10% stake. The sale came after Sacyr had teamed up with Mexico’s Pemex to attempt a management change in Repsol.