SNC-Lavalin to buy U.K. engineering firm WS Atkins for C$3.6B

|About: SNC Lavalin Group Inc.A (SNCAF)|By:, SA News Editor

SNC-Lavalin (OTCPK:SNCAF) says it has reached an agreement to buy U.K. engineering and project management consultancy WS Atkins for C$3.6B (US$2.67B), finalizing a tentative offer made about two weeks ago.

The combination creates a global company specializing in professional services and project management with C$12.1B in revenues.

Canadian pension fund Caisse de depot et placement du Quebec, SNC's biggest shareholder, will extend a C$1.5B loan to SNC and buy C$400M of equity in the company to help finance the deal.