Graña y Montero enters into an agreement with Besco S.A. for the share purchase of Norvial S.A.
08 November 2013 - 2:52AM
Business Wire
Graña y Montero S.A.A. (“Graña y Montero” or the “Company”), the
engineering and construction Peruvian company recently listed in
the New York Stock Exchange, announced it has entered into an
agreement with Besco S.A. in order to purchase from it, 16.9% of
the shares of Norvial S.A. at a price of US$ 19,200,000.00, as
agreed on the Memorandum of Understanding dated September 04,
2013.
Norvial is the concessionaire of the 183 km
Ancón-Huacho-Pativilca road, where the Company currently owns
50.1%.
The obtaining of consents from the International Finance
Corporation (IFC) and the Inter-American Development Bank (IADB)
are still pending for the closing of the acquisition, pursuant to
the Credit Agreement subscribed between Norvial and these entities.
Therefore, the purchase of the shares is subject to a resolutory
condition.
The subscription of the final documentation regarding the
closing of the transaction, will be communicated once the consents
are obtained.
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 now also the NYSE. 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.
With 80 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.
The Company has also executed several projects outside Perú, and
has acquired three companies in Chile: DSD Construcciones y
Montajes, an engineering and construction company specialized in
providing services to the energy, oil and gas, cellulose and mining
sector in Chile and Latin America; Vial y Vives, a construction
company specialized in the mining sector, and CAM, which is
specialized in electric services, with operations in Chile, Peru
and Colombia.
Graña y Montero is listed in the NYSE under ticker symbol “GRAM”
and in the Lima Stock Exchange under ticker symbol “GRAMONC1”.
Graña y Montero S.A.A.Juan Jose Arrieta, 511-213-6598Corporate
Communications& Social Responsibility
Officerjarrieta@gym.com.peorDennis Gray F., 511-213-6583Investor
Relations
Officerdgray@gym.com.perelacion.inversionistas@gym.com.pe
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