(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.
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