Seeking Alpha

SNC-Lavalin to buy British oil services company for C$2.1 B

  • SNC-Lavalin (SNCAF) agrees to acquire U.K.-listed engineering energy service firm Kentz Corp. (KNTZF) for ~C$2.1B (US$1.95B), bolstering the Canadian company's global engineering and construction operations in the oil and gas sector.
  • SNC expects the deal to boost its overall backlog by C$4.9B, ~78% of which is expected to come from lower/higher margin services-based contracts, and looks to raise the percentage of its annual revenue derived from oil and gas services to ~24% from 7%.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: