LIMA, Peru--(BUSINESS WIRE)--Graña y Montero S.A.A (NYSE: GRAM) (BVL: GRAMONC1) and Enagás have formalized today the purchase of 51% and 30% respectively of Tecgas from Canada Pension Plan Investment Board (CPPIB). Tecgas is the current strategic operator of Transportadora de Gas del Perú (TgP) and also owns 100% stake of Compañía Operadora de Gas del Amazonas (COGA).
In March of this year, Graña y Montero S.A.A. and Enagás announced an agreement with CPPIB for the purchase that has materialized today. CPPIB holds 19% of Tecgas and COGA.
This purchase represents a strategic long-term investment for Graña y Montero, Enagás and CPPIB, who share a vision of growth for the company. Tecgas will continue to operate as an autonomous company and the partners will provide support and assistance in those areas that will allow them to generate added value due to its complementarity, knowledge and experience.
Tecgas and COGA have a professional and technical team that holds the knowledge and experience necessary to maintain and ensure a successful operation.
About Graña y Montero S.A.A.
Graña y Montero S.A.A is a Peruvian Group comprised of 25 companies of Engineering and Infrastructure with presence in 7 Latin American countries and has over 47,000 employees.
After 81 years, Graña y Montero S.A.A. continues to grow with the same enthusiasm and vision of the future that its founders shared in 1933, to become the most reliable Group of Engineering and Infrastructure services in Latin America. Today, its mission is to solve the needs of engineering and infrastructure services of their costumers beyond contractual obligations, providing its employees an environment that motivates and allows them to grow as persons and as professionals, respecting the environment, developing positive relations with the communities around its operations and meeting the expectations of its shareholders. Its vision is to be recognized as the most reliable Group of Engineering and Infrastructure Services in Latin America.
About Enagás
The company operates in Peru since March 2014, when it closed the acquisition of 22.38% of TgP from Hunt and Repsol. Then, Enagás also reached an agreement to sell 2.38% of TgP to CPPIB and acquire 30% of COGA. In June of the current year, the consortium Enagás – Odebrecht was awarded the Peruvian Southern Gas Pipeline Project, of approximately 1,000 km in length.
In addition, the company has assets in Mexico and Chile. In Mexico, it holds 40% of the regasification plant TLA Altamira and participates in the development of pipelines and compressor stations. In Chile, it is the controlling shareholder of GNL Quintero terminal. In September 2014, the company entered the shareholding structure of Trans Adriatic Pipelines (TAP), with a participation of 16%.
Enagás is the operator of the Spanish Gas System and main carrier of natural gas in Spain, where it has 11,000 km of pipelines, five regasification plants and three strategic storages.
About CPPIB
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London, Hong Kong, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. As of September 30, 2014, the CPP fund totaled C$234.4 billion, of which C$6.5 billion are invested in Latin America. CPPIB is the largest shareholder of TgP, with a participation of 36.8%. For more information about CPPIB, please visit www.cppib.com.
