MONTREAL, Feb. 7, 2022 /CNW/ - SNC-Lavalin (TSX: SNC), a
fully integrated professional services and project management
company with offices around the world, has announced today that it
has finalized the transfer of a sixth public-private partnership
(P3) asset, the InPower BC General Partnership, to the SNC-Lavalin
Infrastructure Partners LP (the "Partnership") for a total cash
consideration of approximately $41
million for SNC-Lavalin. InPower BC General Partnership is
the entity contracted to deliver and provide services to the new
John Hart Generating Station in British
Columbia.
"The transfer is another great example of the success of the
Partnership as it creates significant value for SNC-Lavalin and
enables us to continue to efficiently redeploy capital back into
new development opportunities,'' said Stéphanie Vaillancourt,
President, Capital and Operations & Maintenance, SNC-Lavalin.
SNC-Lavalin's Operations & Maintenance arm will continue to
provide asset management services at the facility for the next 11
years.
SNC-Lavalin holds a 20% interest in the Partnership that was
launched and announced on June 30,
2017. The initial closing of the first four assets was
reached on September 27, 2017, with a
fifth asset transfer completed on June 28,
2018.
About SNC-Lavalin
Founded in 1911, SNC-Lavalin is a fully integrated
professional services and project management company with offices
around the world dedicated to engineering a better future for our
planet and its people. We create sustainable solutions that connect
people, technology and data to design, deliver and operate the most
complex projects. We deploy global capabilities locally to our
clients and deliver unique end-to-end services across the whole
life cycle of an asset including consulting, advisory &
environmental services, intelligent networks & cybersecurity,
design & engineering, procurement, project & construction
management, operations & maintenance, decommissioning and
capital – and delivered to clients in key strategic sectors such as
Engineering Services, Nuclear, Operations & Maintenance and
Capital. News and information are available at
snclavalin.com or follow us on
LinkedIn and Twitter.
Forward-Looking Statements
Reference in this press release to the "Company" or to
"SNC-Lavalin" means, as the context may require, SNC-Lavalin Group
Inc. or all or some of its subsidiaries or joint arrangements or
associates. Statements made in this press release that describe the
Company's or management's expectations or strategies may be
"forward-looking statements", which can be identified by the use of
the conditional or forward-looking terminology such as "expects",
"forecasts", "intends", "may", "objective", "plans", "projects",
"should", "will", "likely", or the negative thereof or other
variations thereon. Forward-looking statements also include any
other statements that do not refer to historical facts. Forward
looking statements also include statements relating to the future
capital expenditures. All such forward-looking statements are made
pursuant to the "safe-harbour" provisions of applicable Canadian
securities laws. The Company cautions that, by their nature,
forward-looking statements involve risks and uncertainties, and
that its actual actions and/or results could differ materially from
those expressed or implied in such forward-looking statements or
could affect the extent to which a particular projection
materializes. Forward-looking statements are presented for the
purpose of assisting investors and others in understanding certain
key elements of the Company's current objectives, strategic
priorities, expectations, and plans, and in obtaining a better
understanding of the Company's business and anticipated operating
environment. Readers are cautioned that such information may not be
appropriate for other purposes. Forward-looking statements made in
this press release are based on a number of assumptions believed by
the Company to be reasonable as at the date hereof. The assumptions
are set out throughout the Company's 2020 Annual MD&A
(particularly in the sections entitled "Critical Accounting
Judgments and Key Sources of Estimation Uncertainty" and "How We
Analyze and Report our Results") and as updated in the first,
second and third quarter 2021 MD&A each filed with the
securities regulatory authorities in Canada, available on SEDAR at and on the
Company's website at under the "Investors" section. If these
assumptions are inaccurate, the Company's actual results could
differ materially from those expressed or implied in such forward
looking statements. In addition, important risk factors could cause
the Company's assumptions and estimates to be inaccurate and actual
results or events to differ materially from those expressed in or
implied by these forward-looking statements. Those risks are
identified in the Company's 2020 Annual MD&A (particularly in
the sections entitled "Risk and Un certainties") and as updated in
the first, second and third quarter 2021 MD&A and are not
exhaustive. The forward-looking statements herein reflect the
Company's expectations as at the date of this press release and are
subject to change after this date. The Company does not undertake
to update publicly or to revise any such forward-looking statements
whether as a result of new information, future events or otherwise,
unless required by applicable legislation or regulation.
SOURCE SNC-Lavalin