News

Graña y Montero announces that it sold the Petit Thouars building to VOLCOMCAPITAL for US $ 20.5 million

Graña y Montero S.A.A. a leading Engineering and Construction company, announced that STRACON GyM S.A., a subsidiary of Grupo Graña y Montero, announced that within the process of selling assets held by the company, it has sold to VOLCOMCAPITAL Deuda Peru Fund the building located in block 49 of Petit Thouars Avenue, one of its corporate headquarters in Peru, for an amount of US $ 20.5 million.

The operation structured by BP Capital Perú, includes a lease for up to ten years to Grupo Graña y Montero. In addition, it includes a purchase option on the building.

The sale of the aforementioned headquarters generates a profit of US $ 3.5 million for Grupo Graña y Montero.

This operation, which allows to optimize the profitability of the mentioned real estate asset, is part of the asset sales process launched by Graña and Montero to generate cash, provide more liquidity to the company and reduce its indebtedness.

With this sale, the number of assets sold amounts to six for a total amount of approximately US$ 213.2 million dollars. In addition to the Petit Thouars building, PRINSUR, the Cuartel San Martín project, shares of the Canadian company Red Eagle Mining Corporation, the Compañía Operadora de Gas del Amazonas (COGA) and the GMD Company have already been sold.


Date: September 29, 2017