SNC-Lavalin to sell energy unit to PE-backed Kentech: Reuters

Montreal-based SNC-Lavalin Group is selling its oil and gas business to Kentech Corporate Holdings, an energy services company backed by European private equity firm Blue Water Energy, reported Reuters.

Montreal-based SNC-Lavalin Group is selling its oil and gas business to Kentech Corporate Holdings, an energy services company backed by European private equity firm Blue Water Energy, reported Reuters. The deal is expected to close in the second quarter of this year. SNC-Lavalin expects a fair value write-down in the range of $260 million to $295 million, almost entirely non-cash in nature, in Q4 2020.

Source: Reuters