Graña Y Montero To Purchase A 12.38% Stake In Transportadora De Gas Del Perú S.A.

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 acquire from Pluspetrol Resources Corporation a 12.38% indirect equity interest in Transportadora de Gas del Perú S.A. (the “Acquisition”) for consideration of US$237 million.

In order to fund the Acquisition, G&M has entered into a US$217 million facility with an affiliate of Canada Pension Plan Investment Board (“CPPIB”).

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.

Copyright Business Wire 2010

If you liked this article you might like

These 5 Stocks Are Breaking Out This Summer

Grana Y Montero SAA (GRAM): Today's Weak On High Volume Stock

3 Stocks Underperforming Today In The Diversified Services Industry

These 5 Toxic Stocks Could Be Poisoning Your Portfolio

Must-See Charts: 5 Big Stocks to Trade for Gains