Montreal-Based SNC-Lavalin Now Owns Canada’s Sole Independent Power Carrier
Montreal-based global engineer SNC-Lavalin International Inc. announced on Feb. 11 that it would acquire the remaining 24.08% of AltaLink, Calgary, Alberta, becoming the sole owner of Canada’s only independent power transmission company.
SNC-Lavalin, which has a 76.92% ownership interest in AltaLink, will purchase the remaining interest from Macquarie Essential Assets Partnership (MEAP) for $213 million. The transaction is subject to approval by the Alberta Utilities Commission. MEAP, formed by Australia-based Macquarie Group in 2003, is Canada’s first fund focusing on infrastructure assets.