LIMA, Peru--(BUSINESS WIRE)--Graña y Montero S.A.A. (NYSE: GRAM) (BVL: GRAMONC1) (“the Company,” “the Group” or “Graña y Montero”), a leading Engineering and Construction company, announced that it has closed the sale of the 22.5% stake that Viva GyM, the company’s real estate subsidiary, held through Proyectos Inmobiliarios Consultores S.A.C. (PICSAC), in PRINSUR.
The company Inversiones Centenario S.A.A., its partner in PRINSUR, purchased the shares and made the full payment of US$ 25 MM, as agreed.
As one may recall, on February 24, 2017, we announced the subscription of the purchase agreement through a relevant information communication, which also mentioned that the payment would be disbursed on April, 28, 2017.
The closing of this sale is part of the non-strategic assets sale process, which seeks to bring liquidity to the company and to reduce the indebtedness generated by the termination of the Southern Gas Pipeline contract. To date, four non-strategic assets have been sold, reaching a total amount of US$ 108 MM.
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.