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LONDON/MADRID, June 11 (Reuters) - Morgan Stanley Infrastructure Partners is poised to buy Sacyr's (SCYR.MC) Valoriza Servicios Medioambientales in a deal that could value the unit at close to 600 million euros ($644.8 million) including debt, people familiar with the matter said. Morgan Stanley Infrastructure has prevailed over other firms in an auction that Valoriza's owner, Spanish construction firm Sacyr, held for the company which started in February, the sources said on Sunday. Valoriza Servicios Medioambientales is specialized in managing a range of services in the waste recycling chain such as collection, treatment and management of waste. Sacyr and Morgan Stanley declined to comment. Sacyr has been advised by Santander and Nomura, while Morgan Stanley Infrastructure Partners was advised by Deutsche Bank, the sources said.
Persons: Morgan Stanley, Valoriza, Sacyr, Morgan, Andres Gonzalez, Corina Pons, Jan Harvey, Marguerita Choy Organizations: Morgan Stanley Infrastructure Partners, Morgan Stanley Infrastructure, Santander, Nomura, Deutsche Bank, Thomson Locations: MADRID, Spanish
Motorways recently completed in several Latin American countries and in Italy, along with three more transport projects that will be ready by 2023, should provide the world's fourth-largest transport concession group with steady cash flow for the next 25 years. Most of Sacyr's concession contracts are tied to inflation and have a mechanism making them less dependent on traffic volumes. The divestment plan would bring additional funds to speed up growth in its concession infrastructure businesses mainly in continental Europe, Britain, Australia and Canada. The CFO ruled out a total exit from the water business as it looks to take advantage of opportunities for new water supply units in Central Europe, the United States and Australia amid widening droughts. ($1 = 0.9707 euros)Reporting by Corina Pons, editing by Andrei Khalip, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
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