MADRID (Reuters) – Sacyr is negotiating with Spanish firm Bestinver to sell its 45% stake in the Irish motorway N6 and thus fully exit the concessions business in Ireland, two people familiar with the talks said on Friday.
Sacyr, which is moving forward this year with plans to divest its environmental and facilities businesses, has also said it would get rid of other non-strategic assets.
The sources said Bestinver will manage half of the motorway – a 58-km (36-mile) stretch – under an inflation-linked toll road contract with FCC.
The Spanish firm has a 300 million euros ($330 million) fund for the investment, one of the sources added.
Sacyr and Bestinver declined to comment on the deal, which is still being negotiatied.
The consortium formed by Sacyr and FCC built the N6 motorway, which links Galway and Ballinasloe, in 2007. The two companies have since invested around 324 million euros in the project.
The motorway, which is under a concession until 2037, covers a route with high levels of traffic in the northwest of Ireland, according to Sacyr’s website.
($1 = 0.9084 euros)
(Reporting by Corina Pons, additional reporting by Emma Pinedo, Editing by Louise Heavens)
