Graña y Montero S.A.A. (“Graña y Montero”, “G&M” or the “Company”), the largest engineering and construction company in Peru, announced today that it will sell a 10.43% indirect equity interest in Transportadora de Gas del Perú S.A. to the Canada Pension Plan Investment Board (“CPPIB”), for a consideration of US$ 200 million. In addition, it will also sell a 0.91% equity interest to Corporación Financiera de Inversiones for US$ 17.3 million.
As a result, G&M will hold a 1.64% equity interest in TgP.
On November 2013, G&M acquired a 12.38% indirect equity interest in Transportadora de Gas del Perú S.A. and entered into a US$ 217 million facility with an affiliate of CPPIB in order to fund the acquisition.
Transportadora de Gas del Perú S.A. (“TgP”) is the largest transporter of natural gas and natural gas liquids in Peru. In 2012, TgP delivered approximately 95% of both the country’s total volume of natural gas and natural gas liquids extracted from Blocks 88 and 56 of the Camisea gas fields located in the Peruvian Amazon. TgP’s customers include the largest power generators, natural gas distributors and industrial companies in Peru; in addition, one of its customers, Peru LNG, is the largest gas exporter in Peru and one of the largest gas exporters in Latin America.About Graña y Montero Graña y Montero (NYSE:GRAM, BVL: GRAMONC1) is the only Peruvian engineering and construction company listed on the Lima Stock Exchange and the New York Stock Exchange. 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. For further information, visit www.granaymontero.com.pe.
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