20:26:29 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2018-10-22 C$ 48.01
Market Cap C$ 8,428,359,639
Recent Sedar Documents

Globe says SNC mulls winding down Canadian operations

2018-10-23 07:55 ET - In the News

The Globe and Mail reports in its Tuesday edition that SNC-Lavalin is willing to undergo a radical reshaping if the criminal trial it faces on corruption charges thrusts the company into years of legal limbo that damage shareholder value. The Globe's Eric Reguly writes that chief executive officer Neil Bruce confirmed the views of some analysts that SNC will not allow its valuation to remain depressed if it is buffeted by years of legal problems. It is also facing the headwind of potential instability in Saudi Arabia, which accounted for 11 per cent of overall revenue in 2017. "We do have a Plan B in the works," he said in a phone interview on Monday, without providing details. "We have to protect shareholder value. We have various options." When asked about the company's options, he pointed toward some of the ideas set out by Desjardins Capital Markets last week. Its report said Mr. Bruce's options included selling the core engineering and construction (E&C) business in whole or in part; privatizing the company, perhaps with a strategic partner such as a pension fund; or winding down the Canadian operations. Federal prosecutors refused to negotiate a remediation agreement to settle fraud and bribery charges.

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