NewsAlert: SNC-Lavalin selling stake in Highway 407 to OMERS for $3.25B
Posted April 5, 2019 8:11 am.
This article is more than 5 years old.
MONTREAL — SNC-Lavalin Group Inc. has agreed to sell part of its stake in 407 International Inc. to the OMERS pension fund.
Under the deal, SNC is selling a 10.01 per cent stake in the toll highway operator for $3.25 billion.
The Montreal-based construction and engineering company will retain a 6.76 per cent stake in 407 International.
The agreement is subject to certain shareholders’ rights, including rights-of-first refusal.
More coming.
Companies in this story: (TSX:SNC)
The Canadian Press
