SACYR S.A. () is a Spanish infrastructure operator and developer company based in

Madrid Madrid ( ; ) is the capital and List of largest cities in Spain, most populous municipality of Spain. It has almost 3.5 million inhabitants and a Madrid metropolitan area, metropolitan area population of approximately 7 million. It i ...

History

The company was founded in 1986 as Sociedad Anónima Caminos y Regadíos and was renamed Sacyr in 1991. The company received their first concession in 1996, which was the Chilean El Elquí highway. From this moment on, it began its expansion by adding concessions in

Chile Chile, officially the Republic of Chile, is a country in western South America. It is the southernmost country in the world and the closest to Antarctica, stretching along a narrow strip of land between the Andes, Andes Mountains and the Paci ...

and Spain and making purchases such as that of Avasa, the highway between

Bilbao Bilbao is a city in northern Spain, the largest city in the Provinces of Spain, province of Biscay and in the Basque Country (greater region), Basque Country as a whole. It is also the largest city proper in northern Spain. Bilbao is the List o ...

and

Zaragoza Zaragoza (), traditionally known in English as Saragossa ( ), is the capital city of the province of Zaragoza and of the autonomous communities of Spain, autonomous community of Aragon, Spain. It lies by the Ebro river and its tributaries, the ...

. In 2002, it acquired 24.5% of Vallehermoso, a leading Spanish housing business founded in 1921. In 2003 it merged with Vallehermoso to form Sacyr Vallehermoso. In June 2006, Isolux Corsán presented a takeover bid for Europistas at a price of 4.8 euros per share, which meant valuing the company at 646 million euros. On December 1, 2008, an agreement between the Citigroup fund and Sacyr was announced, whereby Sacyr disposed of its subsidiary for €7,887 million, €2,874 million in cash plus €5,013 million in net debt that would be assumed by the fund. The agreement did not include concessions under development and concessions in operation that were not highways. In addition, the group would later acquire from Citigroup a series of toll roads worth €478.3 million and a series of concession activities in the launch and construction phase for a total amount of €450 million. Sacyr seeks to bring together all the concessions it holds in a new subsidiary, Sacyr Concesiones. Abertis also agreed with Citigroup to buy assets in Spain and Chile for a value of €621 million. Also, Atlantia would acquire stakes in toll roads in

Portugal Portugal, officially the Portuguese Republic, is a country on the Iberian Peninsula in Southwestern Europe. Featuring Cabo da Roca, the westernmost point in continental Europe, Portugal borders Spain to its north and east, with which it share ...

, Brazil and Chile for €420 million. In July 2022, the company was fined €16.7 million, along with five other contractors, by the Comisión Nacional de los Mercados y la Competencia (CNMC) for bidding collusion in public tenders for building and civil infrastructure works.

Major projects

Major projects involving the business include the Torre Sacyr Vallehermoso, completed in 2008.

Shareholdings

Sacyr was the largest shareholder in the Spanish oil company Repsol YPF, holding an approximate 20% stake. On December 20, 2011, Repsol YPF bought half of Sacyr's stake back in order to save the shares from being seized in a foreclosure. As of June 2021, SACYR owned 7.8% of Repsol YPF.

References

External links

* Construction and civil engineering companies of Spain Companies based in Madrid Spanish companies established in 1999 Multinational companies headquartered in Spain Spanish brands Companies listed on the Madrid Stock Exchange Construction and civil engineering companies established in 1999 IBEX 35 {{Spain-company-stub