Sacyr hires Santander and Deutsche Bank as advisers to find partner
MADRID, July 29 (Reuters) -Spanish construction firm Sacyr SCYR.MC hired Santander and Deutsche Bank as financial advisers to find a partner for new unit Voreantis as a way to raise cash and better compete with larger rivals for contracts in countries such as the United States, a company source told Reuters on Monday.
The motorway concession company plans to sell 49% of Voreantis, in which it has placed all its current assets, aiming to raise 800 million euros ($872 million), Sacyr's Chief Financial Officer Carlos Mijangos told Reuters earlier this month. L1N3J40EG
Sacyr's financial advisers will formally contact investors in September to begin the process and the company expects to close a deal by the end of 2025, the CFO said. More than 10 funds have already approached Sacyr, Mijangos added.
Reporting by Corina Pons; Editing by Pietro Lombardi
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