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SNC-Lavalin to acquire Kentz Corporation Limited, a leading oil & gas services company with a global presence

23/06/2014 by

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SNC-Lavalin Group Inc. Is pleased to announce that it has reached an agreement with Kentz Corporation Limited, approved by the boards of directors of both companies, on the terms of a cash acquisition by which the entire ordinary share capital of Kentz–issued and to be issued–will be acquired by SNC-Lavalin. Kentz is a global oil & gas services company, with 14,500 employees operating in 36 countries who provide engineering, construction and technical support services to clients in the oil & gas sector. The full announcement was issued earlier publicly and may be viewed on SNC-Lavalin’s website.

The proposed acquisition of Kentz is fully aligned with SNC-Lavalin’s strategy of becoming a global Tier-1 engineering and construction services firm. The addition of Kentz’s capabilities will make SNC-Lavalin a leading global E&C player in the oil & gas sector, with a greater presence in key growth regions, including the Middle East, North America and Asia Pacific, with a significant presence in Australia. The acquisition also meets the strategic priority of balancing the Company’s risk profile by significantly raising the percentage of revenues it derives from services. This has been supported by discussions between both parties and a robust due diligence process.

This article has been extracted from http://online.wsj.com, please click on this link to read the article in full http://online.wsj.com/article/PR-CO-20140623-902516.html

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