SNC-Lavalin looking at selling stake in Alberta electricity transmission company
Sep 30, 2013 / 5:34 am
MONTREAL - SNC-Lavalin (TSX:SNC) has put its stake in AltaLink, which owns more than half of Alberta's electricity transmission grid, up for sale.
AltaLink operates about 12,000 kilometres of transmission lines and 280 substations in the province, serving about 85 per cent of the population.
The company provided few specific details of its plan, which is part of a broader strategy of reducing its investments in infrastructure assets.
It says all options will be considered including a private sale, strategic alternatives or turning to the public market.
SNC-Lavalin's concessions portfolio also includes the Highway 407 toll road near Toronto, a Montreal hospital and the Montreal symphony hall.
Earlier this year, the company signed a deal to sell 66 per cent of its minority interest in Astoria Project Partners II LLC, which owns and operates the gas-fired Astoria II power plant in New York City.
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