SNC-Lavalin gets green light to sell AltaLink
SNC-Lavalin received approvals from the Alberta Utilities Commission (AUC) and approvals pursuant to the Competition Act and Investment Canada Act. SNC-Lavalin expects to reach financial close as soon as possible.
SNC-Lavalin announced on May 1, 2014 that it has entered into a binding agreement to sell 100 percent of its interest in AltaLink to Berkshire Hathaway Energy.
Based on the terms of the agreement and assuming a December 31, 2014 closing date, gross proceeds to SNC-Lavalin from the sale will be approximately $3.2 billion. ■