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| SNC-Lavalin to acquire remaining interest in AltaLink Montreal-based SNC-Lavalin, which currently holds an indirect 76.92% ownership interest in Calgary-based AltaLink L.P., announced that it will acquire the remaining interest in the limited partnership pursuant to an offer received from Macquarie Essential Assets Partnership (MEAP) for $213 million. The transaction is subject to customary closing conditions and regulatory approval, including approval from the Alberta Utilities Commission. The offer was presented on January 20, 2011 in response to a binding offer received by MEAP from a third party pursuant to a right of first refusal held by SNC-Lavalin to acquire MEAP's 23.08% ownership interest in AltaLink. AltaLink is Canada's only fully independent transmission company, and is responsible for the maintenance and operation of approximately 11,800 kilometres of transmission lines and 270 substations in Alberta. It owns more than half of Alberta's transmission grid and serves 85 per cent of its population. write your comments about the article :: © 2011 Construction News :: home page |