SNC-Lavalin (TSX: SNC) is pleased to announce that on December 30, 2016, it reached financial close on the sale of its Real Estate Facilities Management business in Canada to Brookfield Global Integrated Solutions. The agreement for this sale was announced on June 30, 2016.
The sale includes facilities management, property management, realty management and related project management. The community mailboxes and P3s are not included in the agreement.
SNC-Lavalin’s Real Estate Facilities Management business in Canada has approximately 1,100 employees.
This sale is a result of a review carried out under SNC-Lavalin’s Operational Excellence approach, which identified these activities as non-core to the business strategy.
Founded in 1911, SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. From offices in over 50 countries, SNC-Lavalin's employees are proud to build what matters. Our teams provide engineering, procurement, construction, completions and commissioning services together with a range of sustaining capital services to clients in four industry sectors: oil and gas, mining and metallurgy, infrastructure and power. SNC-Lavalin can also combine these services with its financing and operations and maintenance capabilities to provide complete end-to-end project solutions. www.snclavalin.com