Christmas comes early for SNC-Lavalin – 100% of AltaLink under the tree
By Anthony Capkun
December 7, 2011 – SNC-Lavalin closed its acquisition of Macquarie Essential Assets Partnership’s (MEAP) 23.08% ownership interest in Calgary, Alta.-based AltaLink LP. Now, SNC-Lavalin now has full ownership.
“We’re very happy the regulatory approvals have been received and the transaction has closed,” said Gilles Laramé, executive vice-president and CFO, SNC-Lavalin Group Inc. “With its technical expertise and extensive experience throughout the province, AltaLink will continue to supply safe, reliable and efficient electricity to Albertans.”
AltaLink is Canada’s only fully independent transmission company, and is responsible for the maintenance and operation of about 12,000 kilometres of transmission lines and 270 substations in Alberta. It owns more than half of Alberta’s transmission grid and serves 85% of its population.
SNC-Lavalin is global engineering and construction group, and a player in the ownership of infrastructure and in the provision of operations and maintenance services. SNC-Lavalin has offices across Canada and in over 35 other countries around the world, and is currently working in some 100 countries. The company celebrated its 100th anniversary this year.