Sasir leaves Repsol’s capital after selling the entire 2.9% he still had


The sale leaves Sacyr with a positive cash balance of €58 million, which will be used to reduce the Sahara loan and its investment plan.

Manuel Manrique, President and CEO of Sasir.
Manuel Manrique, President and CEO of Sasir.EM

Sasir has sold its 2.9% stake in RepsolWhat has come out of the oil company’s capital, as reported on Monday by the concessions, engineering and infrastructure company national stock market commission (CNMV).

This operation has been made possible due to the rise in the price of Repsol shares in recent sessions, which has allowed reimbursement of liquidation costs of derivatives of put options (PUTs) that act as participation coverage.

The sale reduces the debt associated with these shares to 563 million euros and leaves Sassier with a positive cash balance of 58 million euros, which will be used to reduce debt and fund its investment plan in concessions .

This operation represents the fulfillment of one of the objectives of Sassier’s Strategic Plan 21-25: improving the visibility of the balance sheet and forecasting of the 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 increase shareholder remuneration.

The company assures, “Once Repsol’s exit is complete, Sasir will remain even more firmly on its consolidation as a leading developer and operator of concessions globally to meet the rest of its strategic plan objectives.” And will focus with determination.” ,

Sassier also reaffirmed his full support for Repsol’s business strategy and policies to combat climate change. The oil company’s shares closed last Friday at 15.16 euros per headline after a 1.34% revaluation. For its part, shares of Sasir ended Friday’s session at a price of 2.59 euros, up 0.31% on the day.

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