SACYR, S.A. 
The highway concessions company plans to sell 49% of Voreantis, in which it has placed all its current assets, with the aim of raising 800 million euros ($872 million), Sacyr CFO Carlos Mijangos told Reuters.
"Now we are going to fight at the same level as other big competitors (...) that have big assets in the United States, because we are already in that league and we can compete," Mijangos said in an interview at Sacyr's headquarters in Madrid.
Spanish giant Ferrovial is also betting on the U.S. market.
Sacyr expects its financial advisors to formally contact investors in September and close a deal by the end of 2025, Mijangos said. More than 10 funds have already contacted Sacyr, he added.
The company hopes to leverage its growth to win larger and more profitable highway concession projects in the U.S. and triple its market value from the current €2.6 billion by 2033, he said.
Mijangos is not worried that a change of government in the US, should Donald Trump win the November presidential election, will derail publicly funded projects, as Sacyr intends to bid primarily on those developed by individual states rather than the federal government.
Sacyr sees opportunities around major cities in the southeastern states of Georgia, Tennessee and Louisiana, where many 70-year-old highways are in need of investment.
"Is there more of a market than in Europe? I would tell you yes. There's a lot more to renovate in the U.S.," he says.
On the other hand, Sacyr is reviewing its plan to sell assets in Colombia and Chile and could transfer them to Voreantis. The company also operates in southern Europe, Canada and Australia.
"Right now is not the best time to sell, because valuations are still unattractive," Mijangos said.
(1 U.S. dollar = 0.9172 euros)
(Reporting by Corina Pons; editing by Charlie Devereux, Inti Landauro and Kirsten Donovan; Spanish editing by Benjamín Mejías Valencia)
