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Spain's Avanza wins bid to acquire Lisbon subway, Carris
(MENAFN) According to the Spanish Ministry of Economy, the country's second largest bus company Avanza won a bid to acquire Lisbon subway and bus carrier Carris, Arab News reported.
The ministry said that the sale of the state-owned companies will entail annual savings of over USD28.25 million and USD243.95 million during the concession period lasting eight months.
The government is selling state-owned companies as part a plan to reduce its heavy debt load after the USD88.5 billion bailout package it signed in 2011 with the trio of the EC, the IMF and the ECB.
The ministry said that the sale of the state-owned companies will entail annual savings of over USD28.25 million and USD243.95 million during the concession period lasting eight months.
The government is selling state-owned companies as part a plan to reduce its heavy debt load after the USD88.5 billion bailout package it signed in 2011 with the trio of the EC, the IMF and the ECB.
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