U.S. Markets closed

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


Graña y Montero S.A.A. (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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170424006619/en/