Graña y Montero Closes Second Sale of Non-Strategic Asset
February 24 2017 - 10:11PM
Business Wire
Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the
Company,” “the Group” or “Graña y Montero”), a leading Engineering
and Construction company, announced that Viva GyM, which is the
Group’s real estate subsidiary, has sold through the company
Proyectos Inmobiliarios Consultores S.A.C. (in which it holds a
92.42% stake) all of its shares in Promoción Inmobiliaria del Sur
S.A, corresponding to 22.5% of the share capital.
The purchase was made by Inversiones Centenario S.A.A, its
partner in this company, for an amount of US$25 million, which will
be fully paid on April 28, 2017.
This is the second sale that Graña y Montero closes within the
framework of the sale of non-strategic assets, whose objective is
to comply with the commitments derived from the termination of the
concession contract for the Peruvian Southern Gas Pipeline (GSP).
The first asset sold was the 50% stake held by Viva GyM in the
Cuartel San Martín project in Lima, announced less than three weeks
ago.
It is important to note that the non-strategic assets that the
Graña y Montero Group has put up for sale do not impact the Group’s
long- or medium-term business strategy.
About Graña y Montero S.A.A.
Founded in 1933, Graña y Montero is the only Peruvian
engineering and construction company listed on the Lima Stock
Exchange since 1997 and in the NYSE since 2013. The Company has
participated in the development of major engineering and
construction projects in Peru, including large-scale, complex
projects in the energy, mining, construction and real estate
sectors.
It currently has subsidiaries in Chile and Colombia, and has
been executing major projects in Panama, Bolivia, Jamaica and
Ecuador.
With 83 years of operations, the Company has leveraged its
engineering and construction expertise into complementary lines of
business, such as the development, ownership, operation and
maintenance of infrastructure assets, real estate developments, and
the provision of technical services. The Company has significant
investments in infrastructure concessions, such as three toll roads
and Line 1 of the Lima Metro.
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version on businesswire.com: http://www.businesswire.com/news/home/20170224005867/en/
Graña y Montero S.A.A.Samantha Ratcliffe,
511-213-6573Head of Investor
Relationssamantha.ratcliffe@gym.com.perelacion.inversionistas@gym.com.pehttp://investorrelations.granaymontero.com.pe/orBelén
Masson, 511-213-6565, ext. 6453Investor Relations
Assistantbelen.masson@gym.com.pe
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