SNC-Lavalin £2.1 billion acquisition of WS Atkins

Overview:

• SNC-Lavalin Group, a Canadian engineering and construction company, has acquired WS Atkins for £2.1 billion,
• The offer amounts to 2080p per share.
• The deal creates a combined company with 53,000 employees.
• WS Atkins has worked on projects including the redesign of Trafalgar Square in London and the Dubai Opera.
• SNC shareholder Caisse de depot et placement du Quebec (CDPQ), will provide a loan of C$1.5 billion to help fund the deal and will acquire C$400 million in equity in WS Atkins.
• RBC advised SNC.
• The deal follows the completion earlier this year of another significant merger in the engineering sector when Wood Group acquired Amec Foster Wheeler.

Sam Duke - Editor