SNC-Lavalin sets up infrastructure partnership with European firm

MONTREAL — SNC-Lavalin  (TSX:SNC) is shifting a collection of its Canadian infrastructure holdings to a new partnership with a European investment firm through a $208-million deal announced Friday.

The portfolio includes a hospital in Campbellton, N.B., a bridge in Kelowna, B.C.,  part of Vancouver’s SkyTrain rapid transit system and the Southeast Stoney Trail, a 25-kilometre segment of Alberta’s provincial highway system.

SNC says the portfolio also includes the Glen site of the McGill University Health Centre in Montreal.

The Montreal-based engineering and construction company will retain 20 per cent ownership in the assets through SNC-Lavalin Infrastructure Partners LP and continue to manage the infrastructure.