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 yesterday that it closed the sale of the 50% stake held by its subsidiary, Viva GyM, in Cuartel San Martin, after signing the Public Deed. Cuartel San Martin is a real estate project that will be developed in a land of more than 68,000 m2, located in San Isidro.
Therefore, URBI, the company who was its partner with the remaining 50%, has disbursed the amount of the sale, which totals US$ 50 million. “This transaction forms part of the non-strategic assets sale which, as we announced, is exceeding initial expectations”, stated Luis Díaz Olivero, Corporate Chief Executive Officer of the Graña y Montero Group.
As one may recall, on February 2, 2017, we announced as Relevant Information Communication the subscription of the purchase agreement with URBI, as well as that by April 03 at the latest, the payment would be disbursed.
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 in 4 Business Areas and operates in 5 countries in Latin America. It is the only South American construction company listed in the Lima Stock Exchange and in the NYSE. It has 83 years of operations, due to its corporate values, which have always guided the behavior of its employees. It has been an example in the region for its good practices in corporate governance and has been continuously considered as one of the most admired and renowned firms of the country.
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