SNC-Lavalin completes closing of the sale of its Scandinavian Engineering Services Business
by CM staff
Proceeds from the sale will provide additional funds to accelerate the company's capital allocation priorities.
MONTREAL — SNC-Lavalin has completed the closing of the sale of its Scandinavian Engineering Services business. SNC-Lavalin previously announced that it had entered into a binding agreement to sell its Scandinavian Engineering Services business – comprising Denmark, Sweden and Norway – to SYSTRA Group, a France-based engineering and consulting group specialized in public transport and mobility solutions.
The sale represents a step forward in the company’s strategy to reduce its risk profile and drive growth.
“The closing of the sale further optimizes our portfolio of activities and ensures that we can be fully focused on the areas of our business with the highest value-creation potential,” said Ian L. Edwards, President and CEO of SNC-Lavalin. “I would like to thank all the Scandinavian Engineering Services employees for their dedication and hard work over the years, and wish them every success with SYSTRA,” added Mr. Edwards.
Proceeds from the sale will provide additional funds to accelerate the company’s capital allocation priorities.
