Grana Takes TGP Stake with Canadian Backing

Peruvian construction firm Grana y Montero had agreed to buy a 12.38% stake in natural gas distributor Transportadora de Gas del Peru for $237m from Pluspetrol Resources, it says. The Canada Pension Plan Investment Board has extended a loan to the builder to fund the acquisition. Grana y Montero announced an agreement with the Canadian pension manager earlier in the month to invest together in Latin American infrastructure projects. The construction firm listed on the NYSE in July, raising $474m through the equity follow-on.