GyM denies Sur Peruano pipeline deal
Lima-based Graña y Montero (GyM) said it has not reached a deal with Brazil's Odebrecht to acquire the latter's shares in Gasoducto Sur Peruano (GSP) or has any intention to increase its stake in GSP.
GyM made the announcement in a filing with Peru's securities regulator SMV in response to media reports that said the company and Enagás – the other GSP stakeholder – would acquire Odebrecht Latinvest's GSP interest.
GyM did confirm that Odebrecht Latinvest has hired investment banks to sell the latter's stake in the Peruvian gas pipeline project.
Embattled Odebrecht plans to sell off 12bn reais (US$3.24bn) in assets to face nearly 100bn reais in company debt.
Last month, GSP's board designated Enagás and GyM executives to take over as general manager, and financial and investment manager, respectively, posts which had been held by Odebrecht Latinvest, to distance GSP from the Lava Jato corruption case in Brazil, in which Odebrecht is embroiled.
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