CA - SNC-Lavalin to divest Scandinavian Engineering Services business to SYSTRA Group

2023-07-07 08:09:24 ET

• SNC-Lavalin ( OTCPK:SNCAF ) will sell its Scandinavian Engineering Services division, which includes Denmark, Sweden, and Norway, to SYSTRA Group, a French engineering and consulting firm with a focus on mobility and public transportation, for an enterprise value of approximately £80 million.
• The proceeds from the sale will provide additional funds to company to accelerate it's capital allocation priorities and execute on a strategic review to further focus on core growth markets to maximize value creation.
• The deal is expected to be completed in the fall of 2023, and the transaction is expected to generate a gain on sale.

For further details see: