Graña y Montero Moves Forward with its Assets Divestment Strategy
February 28 2017 - 6:41PM
Business Wire
Graña y Montero S.A.A. (NYSE:GRAM) (BVL:GRAMONC1) (“the Company”
or “Graña y Montero”) a leading Engineering and Construction
company, announced today that it closed its third sale of
non-strategic assets in order to fulfill the obligations derived
from the termination of the Peruvian Southern Gas Pipeline (GSP),
as it announced as a Relevant Information Communication the past
January 26, 2017.
Through STRACON GyM, which is a subsidiary specialized in mining
services, the Graña y Montero Group has closed the sale for 8.69%
of its stake in the Canadian company Red Eagle Mining Corporation
for USD 11.5 million, retaining a 3.98% stake.
For its part, STRACON GyM will continue with the contract it
signed with Red Eagle Mining in 2015 to operate the mining project
San Ramón, located in Antioquia, Colombia.
It should be noted that in November 2016, following the
successful completion of its construction, the mine achieved its
first gold production and expects to start commercial production by
the end of the first quarter of 2017.
Recently, the Company announced the sale of all of its shares in
PRINSUR and in the project Cuartel San Martín de Lima, for USD 25
million and USD 50 million, respectively. As a result, the total
amount in assets sales adds up to USD 86.5 million.
About Graña y Montero S.A.A.
Graña y Montero is the largest and most important Engineering
and Infrastructure Company in Peru. It has 26 companies in 4
Business Areas and operates in 5 countries in Latin America. It is
the only South American construction company listed in the Lima
Stock Exchange and in the NYSE. It has 83 years of operations, due
to its corporate values, which have always guided the behavior of
its employees. It has been an example in the region for its good
practices in corporate governance and has been continuously
considered as one of the most admired and renowned firms of the
country.
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version on businesswire.com: http://www.businesswire.com/news/home/20170228006943/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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