GRANA Y MONTERO GROUP Clarification on news reports about request for arbitration ICSID Arbitration - 19 December 2019
Country
Year
2019
Summary
...
We refer to the news published today in various media, through which it is indicated that Graña y Montero S.A.A. (the "Company") has filed a request for arbitration with the International Centre for Settlement of Investment Disputes ("ICSID").
In this regard, we ratify the points indicated in the previous paragraph. In effect, after having finished the direct negotiation procedure[1], the Company presented a request for arbitration to make effective the collection of the debt maintained by the Peruvian Government in favor of Gasoducto Sur Peruano S.A. ("GSP")[2] for the net book value of the assets of the concession of the project "Improvements to the Energy Security of the Country and Development of the Southern Peruvian Gas Pipeline"[3].
It should be noted that, to date, the Company has not filed any lawsuit regarding this matter. As a matter of fact, the Company may file the corresponding arbitral lawsuit after the ICSID accepts and registers the request to initiate arbitration and the respective arbitral tribunal is installed.
The Company is committed to inform the market in a timely manner when our request for arbitration is accepted or denied and we formally initiate the arbitration indicated above.
[1] Relevant Information Communication of December 21, 2019 (Exp. No. 2018049844).
[2] Concessionaire whose shareholders are the Company, Odebrecht Latinvest and Enagás.
[3] On January 24, 2017, the Peruvian Government terminated the concession contract and took custody of the concession assets. To date, the State has not re-tendered the concession as stipulated in the concession contract and therefore the value of the concession assets cannot be returned to GSP.
GRAÑA Y MONTERO S.A.A.
Statements related to pursue a plea agreement in connection to the criminal investigations prosecuted against it; and litigating before ICSID against the Peruvian state for compensation for the assets provided to the Gasoducto Sur Peruano Project ("GSP").
Related statements on OGEL:
- Reports for Shareholders meeting - Withdrawal of the arbitration request before ICSID - Provision deduction of bad debt - 7 January 2020
- Plea Bargian Agreement and Withdrawal of a Complaint Before ICSID Date December 23th 2019 - 7 January 2020
- General Shareholder's Meeting (February 2020) Motion No 1 - Ratification of the Act of Mutual Understanding for the Completion of Plea Agreement Procedure - Gaseoducto del Sur Peru - Request for Arbitration - 6 January 2020
- Statement regarding withdrawn arbitration application filed before the International Centre for Settlement of Investment Disputes (ICSID) related to the Gaseoduto Sur Peruano project - 27 December 2019
- Clarification on new reports about request for arbitration ICSID Arbitration - 19 December 2019
and TDM:
- Reports for Shareholders meeting - Withdrawal of the arbitration request before ICSID - Provision deduction of bad debt - 7 January 2020
- Plea Bargian Agreement and Withdrawal of a Complaint Before ICSID Date December 23th 2019 - 7 January 2020
- General Shareholder's Meeting (February 2020) Motion No 1 - Ratification of the Act of Mutual Understanding for the Completion of Plea Agreement Procedure - Gaseoducto del Sur Peru - Request for Arbitration - 6 January 2020
- Statement regarding withdrawn arbitration application filed before the International Centre for Settlement of Investment Disputes (ICSID) related to the Gaseoduto Sur Peruano project - 27 December 2019
- Clarification on new reports about request for arbitration ICSID Arbitration - 19 December 2019