MONTREAL, Oct. 12, 2010 /CNW Telbec/ - SNC-Lavalin Group Inc. ("SNC-Lavalin") announced today that it has entered into an agreement with a group of financial institutions to sell its approximate 10.07% equity interest in Valener Inc. (TSX:VNR) ("Valener") consisting of 3,516,453 common shares of Valener, on an underwritten block trade basis, for anticipated net proceeds of $58,705,424.61. The transaction is expected to close on November 2, 2010.
SNC-Lavalin will hold no equity securities of Valener following the sale.
SNC-Lavalin will file an "Early Warning Report" with Canadian Securities Regulators shortly, which will be available at www.sedar.com.
SNC-Lavalin (TSX: SNC) is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure, and in the provision of operations and maintenance services. SNC-Lavalin has offices across Canada and in over 35 other countries around the world, and is currently working in some 100 countries. www.snclavalin.com.
For further information:
| Media | Investors |
| Leslie Quinton Vice-President, Global Corporate Communications SNC-Lavalin Group Inc. 514-393-8000, ext. 7354 [email protected] |
Denis Jasmin Vice-President, Investor Relations SNC-Lavalin Group Inc. 514-393-8000, ext. 7553 denis.jasmin@snclavalin.com |
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