MADRID, Nov 14 (Reuters) - Spanish constructor Sacyr Vallehermoso SVO.MC has agreed to sell its highway business to Citigroup C.N for around 7.5 billion euros ($9.37 billion), Spanish press reported on Friday, citing unnamed sources involved in the deal.
The buyer will pay 2.5 billion euros in cash and assume the company’s debt of 5 billion euros.
Citi's infrastructure unit will acquire Itinere and has subsequent asset sale agreements with Spanish motorway group Abertis ABE.MC and Italian toll-road operator Atlantia ATL.MI, Cinco Dias reported.
No one at Sacyr was immediately available to comment. (Reporting by Paul Day; Editing by Hans Peters)
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