Sacyr Vallehermoso SA is in advanced talks to sell its Portuguese water unit to Japan’s Marubeni Corp., Expansion newspaper reported without saying how it got the information.
The unit’s assets and debt are estimated to be valued at about 250 million euros ($340.3 million), the newspaper said, citing unidentified people in the water industry.
Marubeni has already informed European competition authorities of the deal in which a Japanese investment fund will also participate, Expansion said.
A spokesman for Sacyr declined to comment when contacted by Bloomberg News. A call to Marubeni’s Madrid office wasn’t immediately answered.