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. SNC-Lavalin made the offer in response to an offer from an unidentified third party to acquire the MEAP
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.