Company Website:
http://www.granaymontero.com.pe/
LIMA, Peru -- (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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170224005867/en/
Contacts:
Graña y Montero S.A.A.
Samantha Ratcliffe, 511-213-6573
Head
of Investor Relations
samantha.ratcliffe@gym.com.pe
relacion.inversionistas@gym.com.pe
http://investorrelations.granaymontero.com.pe/
or
Belén
Masson, 511-213-6565, ext. 6453
Investor Relations Assistant
belen.masson@gym.com.pe
Source: Graña y Montero S.A.A.
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