SNC-Lavalin completes the transfer of fifth Canadian asset into its Infrastructure investment vehicle
SNC-Lavalin completes the transfer of fifth Canadian asset into its Infrastructure investment vehicle |
[28-June-2018] |
MONTREAL, June 28, 2018 /CNW Telbec/ - SNC-Lavalin (TSX: SNC) announces today that it has finalized the transfer of its fifth asset, the McGill University Health Centre, Glen site, to the SNC-Lavalin Infrastructure Partners LP (the "Partnership"). This transaction completes the transfer of SNC-Lavalin's interest in five mature Canadian P3 assets into the Partnership. "We are delighted that the transfer of the five seed assets into the venture is now complete. This transaction represents a total cash consideration of approximately C$191 million, which will create significant value for SNC-Lavalin, and furthers our presence in the infrastructure investment management business," said Chantal Sorel, Executive Vice-President and Managing Director, Capital, SNC-Lavalin. The Partnership is SNC-Lavalin's infrastructure investment vehicle, which was established to efficiently redeploy capital back into new development opportunities. The launch of the Partnership was previously announced by SNC-Lavalin on June 30, 2017. The initial closing of the first four assets was reached on September 27, 2017; it included the William R. Bennett Bridge (Kelowna, BC), the Canada Line (Vancouver, BC), the Southeast Stoney Trail (Calgary, AB) and the Restigouche Hospital Centre (Campbellton, NB). About SNC-Lavalin
SOURCE SNC-Lavalin | ||
Company Codes: Toronto:SNC |
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