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Significant step forward in the Company’s strategy to enhance focus on its growing Engineering Services business MONTREAL, Feb. 9, 2021 /CNW Telbec/ – SNC-Lavalin Group Inc. (TSX: SNC ), a fully integrated professional services and project management company, has entered into a binding agreement to sell its Resources Oil & Gas business, a significant step forward in the Company’s strategy to reduce its risk profile and accelerate its ongoing transition to becoming a leading provider of professional engineering services and project management solutions. The Company has also completed its previously announced review of legacy Lump-Sum Turnkey ("LSTK") litigation matters, which was expanded to include all other significant claims, while concurrently reassessing the costs associated with its three remaining Canadian light rail projects in light of COVID-19. The actions that the Company is taking today resulting from these reviews, together with the sale of the Oil & Gas business, reduce the remaining financial uncertainty associated with SNC-Lavalin’s legacy businesses, while allowing the Company to further focus on its strategy of realizing the value and growth potential of Engineering Services business. Strategic divestiture of the Resources Oil & Gas business. The Company has entered into a binding agreement to sell its […]
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