MADRID (AFX) - Sacyr Vallehermoso SA does not plan to use part of the funds raised from the sale of a buy option on its Banco Bilbao Vizcaya Argentaria SA stake to pay a special dividend, the constructor's CEO Manuel Manrique told analysts.
Last month, Sacyr said it booked a 148 mln eur capital gain from the sale of its option on a 3.1 pct stake in BBVA and its existing 0.471 pct of the bank.
Analysts had speculated that part of the proceeds might be earmarked for a special dividend payment.
Manrique noted, however, that the funds will be used to further Sacyr Vallehermoso's growth plans.
"We don't rule out acquisitions in the services sector, as long they create value" for shareholders, he said, but did not provide further details.
afxmadridafxnews.com
jdy/ra
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
Last month, Sacyr said it booked a 148 mln eur capital gain from the sale of its option on a 3.1 pct stake in BBVA and its existing 0.471 pct of the bank.
Analysts had speculated that part of the proceeds might be earmarked for a special dividend payment.
Manrique noted, however, that the funds will be used to further Sacyr Vallehermoso's growth plans.
"We don't rule out acquisitions in the services sector, as long they create value" for shareholders, he said, but did not provide further details.
afxmadridafxnews.com
jdy/ra
For more information and to contact AFX: www.afxnews.com and www.afxpress.com
© 2005 AFX News
