MONTREAL – SNC-Lavalin (TSX:SNC) is shifting a collection of its Canadian infrastructure holdings to a new partnership with a European investment firm through a $208-million deal announced Friday.
The portfolio includes a hospital in Campbellton, N.B., a bridge in Kelowna, B.C., part of Vancouver’s SkyTrain rapid transit system and the Southeast Stoney Trail, a 25-kilometre segment of Alberta’s provincial highway system.
SNC says the portfolio also includes the Glen site of the McGill University Health Centre in Montreal.
The Montreal-based engineering and construction company will retain 20 per cent ownership in the assets through SNC-Lavalin Infrastructure Partners LP and continue to manage the infrastructure.
The other 80 per cent of the limited partnership will be owned by a Canadian subsidiary of BBGI SICAV SA, an investment company incorporated in Luxembourg and listed on the London Stock Exchange.
BBGI invests primarily in public-sector infrastructure that was built partly with private-sector investment.