MADRID, July 29 (Reuters) - Spanish construction firm Sacyr hired Santander and Deutsche Bank as financial advisers to find a partner for new unit Voreantis as a way to raise cash and better compete with larger rivals for contracts in countries such as the United States, a company source told Reuters on Monday.

The motorway concession company plans to sell 49% of Voreantis, in which it has placed all its current assets, aiming to raise 800 million euros , Sacyr's Chief Financial Officer Carlos Mijangos told Reuters earlier this month.

Sacyr's financial advisers will formally contact investors in September to begin the process and the company expects to close a deal by the end of 2025, the CFO said. More than 10 funds have already approached Sacyr, Mijangos added. (Reporting by Corina Pons; Editing by Pietro Lombardi)