Graña Y Montero Closes the Sale of Its Stake in COGA for US$ 21.5 Million
April 24 2017 - 5:13PM
Business Wire
- The transaction is part of the
non-strategic asset sale process, initiated by the Company to
reduce the debt generated by the termination of the Southern Gas
Pipeline contract.
- To date, four assets have already been
sold, reaching a total amount of USD 108 million.
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 today that it closed the sale of
its 51% stake in Compañía Operadora de Gas del Amazonas S.A.C.
(COGA) in favor of Enagás and Carmen Corporation, its partners so
far, for US$ 21.5 million.
This operation is part of the non-strategic asset sale process
of the company, which, as its Chief Executive Officer, Luis Diaz
Olivero, announced at the recent General Shareholders Meeting, “is
exceeding initial expectations”. With COGA, four non-strategic
assets have already been sold, reaching a total amount of US$ 108
million, which brings liquidity to the company and boosts its plan
of debt reduction.
Recently, Graña y Montero also announced the sale of its stake
in the company PRINSUR, in the Cuartel San Martín project and in
the Canadian company Red Eagle Mining Corporation.
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 which
operate in 5 countries in Latin America and has more than 28,000
employees. The Graña y Montero Group has always solved the needs of
its clients beyond business in order to create wellbeing for
society. It has been listed on the Lima Stock Exchange since 1997
and on the New York Stock Exchange since 2013.
To find out more, please visit www.granaymontero.com.pe.
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version on businesswire.com: http://www.businesswire.com/news/home/20170424006619/en/
Graña y Montero S.A.A.Belén Masson, (511) 213-6565
Ext. 6453Investor Relations
Assistantbelen.masson@gym.com.perelacion.inversionistas@gym.com.pehttp://investorrelations.granaymontero.com.pe/
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