SNC to buy Bri­tish firm for $3.6B

Times Colonist - - Business -

MON­TREAL — SNC-Lavalin is making the largest trans­ac­tion in its his­tory af­ter reach­ing an agree­ment to pur­chase Bri­tish en­gi­neer­ing and project man­age­ment con­sul­tancy WS Atkins PLC for $3.6 bil­lion.

The Mon­treal-based com­pany an­nounced the trans­ac­tion Thurs­day, two weeks af­ter it con­firmed making a ten­ta­tive of­fer. The deal, ex­pected to close in the third quar­ter and to be ap­proved by the boards of both com­pa­nies, will en­hance SNC-Lavalin’s size by boost­ing an­nual rev­enues to $12.1 bil­lion and in­creas­ing em­ployee num­bers to 53,000.

Founded in 1938, WS Atkins has 18,000 em­ploy­ees and op­er­ates mainly in the U.K. and Scan­di­navia, along with the U.S., Mid­dle East and Asia. About 86 per cent of its rev­enues are in in­fra­struc­ture and 14 per cent in en­ergy.

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