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Graña Y Montero Closes the Sale of Its Stake in COGA for US$ 21.5 Million

  • 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.
Monday, April 24, 2017 5:13 pm EDT

Dateline:

LIMA, Peru

Public Company Information:

NYSE:
GRAM
PE:
GRAMONC1

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 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.

Contact:

Graña y Montero S.A.A.
Belén Masson, (511) 213-6565 Ext. 6453
Investor Relations Assistant
belen.masson@gym.com.pe
relacion.inversionistas@gym.com.pe
http://investorrelations.granaymontero.com.pe/

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