Graña y Montero Sells Its Stake in Cuartel San Martin Project
04 Februar 2017 - 4:06AM
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 after communicating the
sale of assets for US$300 million with the objective of increasing
liquidity to meet the financial liabilities resulting from its
participation in Gasoducto Sur Peruano; it has now completed its
first sale of assets for US$50 million.
The asset sale is a 50% stake that the company had, through its
subsidiary Viva GyM, in the Cuartel San Martín project. The buyer
is Urbi Propiedades, who is its partner with the remaining 50% in
the project, and who will disburse the amount of the sale no later
than April 3, 2017.
It is worth mentioning that Cuartel San Martín is an ambitious
real estate project that will be developed in a land of more than
68,000 m2, located in San Isidro, and will have four residential
towers, a five star hotel and a shopping center, among others.
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 in the NYSE since 2013. 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.
It currently has subsidiaries in Chile and Colombia, and has
been executing major projects in Panama, Bolivia, Jamaica and
Ecuador. By the end of 2015, the Group’s international revenues
amounted to approximately US$600 million.
With 83 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170203005767/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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