LIMA--(BUSINESS WIRE)--Graña y Montero S.A.A. (NYSE: GRAM) (BVL: GRAMONC1) (the “Company” or “Graña y Montero”) the largest engineering and construction company in Peru, announced it has reached an agreement with Canada Pension Plan Investment Board (“CPPIB”) for the purchase of a 51% interest in Compañía Operadora de Gas del Amazonas (“COGA”), the operator for Transportadora de Gas del Perú S.A. (“TgP”), for a total amount of US$25.5 million. CPPIB has also agreed to sell 30% of COGA to Enagás, and will retain a 19% interest in COGA.
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
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.