ACCIONA sells a concession in Mexico for 38 million euros
ACCIONA has divested its 100% stake in the Universidad Politécnica de San Luis Potosí [San Luis Potosí Polytechnic University] concession company.
ACCIONA will continue to provide operation and maintenance services for the University.
ACCIONA has reached an agreement to sell its concession company "Concesionaria Universidad Politécnica de San Luis Potosí, S.A. de C.V." (Mexico) to the Macquarie Mexican Infrastructure Fund.
The total anticipated enterprise value of the transaction amounts to 619 million pesos (38 million euros), which will be adjusted on the day of the effective transmission of the stake. At 30 June 2012, the concession company's net debt stood at 226 million pesos (14 million euros) and it was booked as an asset available for sale.
"Concesionaria Universidad Politécnica de San Luis Potosí" manages the build, finance, operation and maintenance contract for the state university campus. The university began its first operational phase in 2008 and was commissioned in 2011.
Under the terms of the agreement, ACCIONA will continue to provide operation and maintenance services for the University through "Operadora de Servicios de Infraestructuras Sociales, S.A. de C.V.", the company currently managing the operation of the University itself and the Bajío High Specialty Regional Hospital, in León (Guanajuato State).
The transaction is subject to administrative and financial authorization concerning the transfer of the concession.
This operation is part of ACCIONA's asset rotation plan which envisages the divestment of mature assets in order to drive new investment in this strategic business for the Company.
ACCIONA will continue to operate concessions in Mexico, where it holds a 25-year concession for the Bajío High Specialty Regional Hospital, which came into operation in 2007.
Mexico is a strategic market for ACCIONA, where it enjoys a solid footing in infrastructure, renewable energy and water.