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SNC-Lavalin to buy Kentz Corp. for $2 billion to gain bigger exposure to shale opportunities

8:10 PM MDT | June 23, 2014 | Natasha Alperowicz

Engineering and construction firms SNC-Lavalin Group (Montreal, Canada) and Kentz Corp (St Helier, Jersey, Channel Islands)  have announced an agreement for SNC-Lavalin to buy Kentz for £1.164 billion ($2 billion) in cash. The directors of Kentz, who have been advised by Investec, intend unanimously to recommend that Kentz shareholders vote in favor of the acquisition.    SNC-Lavalin says that having reviewed all strategic options, its board has identified the resources sector, and oil and gas in particular, as a key strategic growth market...

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