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