OMERS completed its 10.01% acquisition of 407 International for $3bn.

OMERS completed its 10.01% acquisition of 407 International, which holds a concession over 407 Express Toll Route, from SNC-Lavalin, a provider of engineering, procurement, and construction services, for $3bn. “The closing of the sale is an important milestone for SNC-Lavalin that contributes to the strengthening of our capital structure. This de-leveraged capital structure will better position us to deliver and execute on our recently announced new strategic direction. Proceeds from this transaction will enable SNC-Lavalin to undertake our planned course of action designed to achieve long-term financial strength,” Ian L. Edwards, SNC-Lavalin Interim President and Chief Executive Officer.