CPPIB To Acquire 10.4% Stake in Peruvian Infrastructure Asset From Grana y Montero

Canada Pension Plan Investment Board (CPPIB) announced  that it will acquire a 10.4% equity stake in Transportadora de Gas del Perú S.A. (TgP) from Graña y Montero (GyM), the largest engineering and construction company in Peru, for a consideration of US$200 million.
"TgP fits well with our infrastructure portfolio and represents our first infrastructure investment in Peru," said André Bourbonnais, Senior Vice-President, Private Investments, CPPIB. "This transaction is in line with our strategy to invest in key sectors in Latin America. Our acquisition of a stake in TgP represents the cornerstone of a long-term partnership with Graña y Montero, as we continue to pursue infrastructure opportunities in select markets in Latin America."
TgP is the largest transporter of natural gas and natural gas liquids in Peru. In 2012, TgP delivered approximately 95% of both the country's total volume of natural gas and natural gas liquids extracted from Blocks 88 and 56 of the Camisea gas fields located in the Peruvian Amazon. TgP's customers include the largest power generators, natural gas distributors and industrial companies in Peru. In addition, one of its customers, Peru LNG, is the largest gas exporter in Peru and one of the largest gas exporters in Latin America.

on February 1, 2014