SNC-Lavalin to Raise USD298 Million in Private Placement of Subscription Receipts

Published: Apr 20 2017
Deal Summary

SNC-Lavalin Group Inc., a provider of engineering and construction services, has agreed to issue 7,775,000 subscription receipts at a price of CAD51.45 (USD38.32) per receipt for gross proceeds of CAD400 million (USD297.93 million) in a private placement. The offering will be subscribed to by Caisse de depot et placement du Quebec (CDPQ).

The company intends to use the proceeds from the offering for the acquisition of WS Atkins plc, a consultancy company that provides design, engineering and project management services, for a purchase consideration of CAD3,600 million (USD2,681.42 million).

Completion of the offering is subject to a number of conditions.

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