Graña y Montero closes the sale of its stake in PRINSUR for US$ 25 million
April 28 2017 - 7:31PM
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 it has closed the sale of
the 22.5% stake that Viva GyM, the company’s real estate
subsidiary, held through Proyectos Inmobiliarios Consultores S.A.C.
(PICSAC), in PRINSUR.
The company Inversiones Centenario S.A.A., its partner in
PRINSUR, purchased the shares and made the full payment of US$ 25
MM, as agreed.
As one may recall, on February 24, 2017, we announced the
subscription of the purchase agreement through a relevant
information communication, which also mentioned that the payment
would be disbursed on April, 28, 2017.
The closing of this sale is part of the non-strategic assets
sale process, which seeks to bring liquidity to the company and to
reduce the indebtedness generated by the termination of the
Southern Gas Pipeline contract. To date, four non-strategic assets
have been sold, reaching a total amount of US$ 108 MM.
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/20170428006123/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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