MONTREAL -- SNC-Lavalin Group Inc. has agreed to sell part of its stake in 407 International Inc. to the OMERS pension fund.
Under the deal, SNC is selling a 10.01 per cent stake in the toll highway operator for $3.25 billion.
The Montreal-based construction and engineering company will retain a 6.76 per cent stake in 407 International.
The agreement is subject to certain shareholders' rights, including rights-of-first refusal.
More to come...
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