Graña y Montero To Purchase Stake In The Maple Companies Limited

Graña y Montero S.A.A. GRAM GRAMONC (“the Company” or “Graña y Montero”), a leading Engineering and Construction company, announced that Graña y Montero S.A.A. and Alcogroup S.A. from Belgium, sent a binding offer for the share purchase of The Maple Companies Limited consisting on: (i) US$ 4 million for the acquisition of 40.0% of shares of The Maple Companies Limited and, (ii) a commitment for an increase of capital in The Maple Companies Limited of US$ 13 million. This operation has been approved by Maple Energy PLC Board of Directors, and will be elevated to its Shareholders' meeting. As a result of this offer, the stakes hold by Graña y Montero S.A.A. and Alcogroup S.A. in The Maple Companies Limited will be of 30.43% and 43.48% respectively. Certain purchase conditions include the sale of 100% of shares of The Maple Gas Corporation del Perú SRL in favor of Graña y Montero Petrolera S.A. (GMP) within a period of thirty days, for US$ 31 million; as well as to assign the funds from the capital increase, and from the share sale of The Maple Gas Corporation del Perú SRL, to Maple Etanol SRL and Maple Biocombustibles SRL. Once the sale is concluded, GMP will own 100% of The Maple Gas Corporation del Perú and Graña y Montero S.A.A. will be a minority shareholder (30.43%) of The Maple Companies Limited.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPress Releases
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!