Sacyr has sold its 2.9% stake in RepsolWhat has come out of the oil company’s capital, as reported Monday by the concessionaires, engineering and infrastructure company, to the National Securities Markets Commission (CNMV).
This operation, Sasser explained, was made possible because of an increase in the price of the bond. Repsol In recent sessions, that has made it possible to offset the cost of settlement of put option derivatives (PUT), which act as a hedge for participation.
The sale reduces the debt associated with these shares by 563 million and leaves Sasir A positive cash balance of EUR 58 million, which will be used to reduce Sahara debt and participate in its investment plan in concessions.
It assumes fulfillment of one of the objectives of the operation Strategic Planning 21-25 Sacyr: Improving the visibility of the balance sheet and predictability of a company’s income statement.
Sasir recalls that, thanks to this plan, it will strengthen its concession profile, which now contributes 83% of gross operating profit (EBITDA); Sahara will reduce debt, to which this operation also contributes), and will increase retribution to the shareholder.
“once out” RepsolSasir will focus even more strongly and with determination on fulfilling the rest of its strategic plan objectives and its consolidation as a leading developer and operator of concessions globally”, the company assured.
Sasir has also reaffirmed its full support for the business strategy and policies to combat climate change Repsol,
The oil company’s shares closed last Friday at 15.16 euros per headline after a 1.34% revaluation. On the other hand, the title of Sasir He ended the session on Friday at a price of 2.59 euros after rising 0.31% on the day.
Sasir sells his 2.9% stake in Repsol and completely gives up its capital