Canadian outfit SNC-Lavalin has completed the takeover of UK engineering company Atkins for £2.1bn.
The Canadian construction and engineering outfit has paid £20.80 in cash for each Atkins share.
The acquisition is expected to add about C$3.5bn of revenue to the company, SNC-Lavalin said.
Atkins group finance director and executive director Heath Drewett becomes president of Atkins, which is SNC-Lavalin’s fifth business sector, and a member of the executive committee of SNC-Lavalin.
He reports to Neil Bruce, president and chief executive of SNC-Lavalin.
Bruce said: “We are thrilled to welcome the employees of Atkins and the tremendous talent they will bring to our combined company.
“Together, we will become part of a larger global organisation that will open the door to new opportunities for further growth and development.”
Image: reNEWS
SNC-Lavalin, Atkins tie the knot
Canadians paid £20.80 in cash for each of the UK outfit's shares
By EBS