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Citi to Buy Spanish Highway Operator
MADRID, Spain -- Spanish construction company Sacyr Vallehermoso said Monday it has agreed to sell its highway-operating unit, Itinere, to Citigroup (C Quote) in a deal valued at nearly 7.9 billion euros ($10 billion).
The sale involves 2.87 billion euros in cash and 5 billion euros in assumed debt, the company said.
Sacyr Vallehermoso has been hard hit by the collapse of Spain's real estate bubble and is eager to ease its debt load. ...
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