Vinci Highways has agreed to acquire the 65.1 percent stake held by OMERS Infrastructure in Strait Crossing Development, the owner of the Confederation Bridge concession contract. No financial terms were disclosed. The Confederation Bridge has since 1997 connected Prince Edward Island and New Brunswick, spanning over the Northumberland Strait.
VINCI Highways to acquire a controlling stake in the Confederation Bridge concession in Canada
Nanterre, April 14th 2022: VINCI Highways has signed an agreement with OMERS Infrastructure to acquire its 65.1% stake in Strait Crossing Development Inc (SCDI), the company owning the concession contract of the Confederation Bridge until 2032.
The Confederation Bridge (12.9 km) connects since 1997 Prince Edward Island Province and New-Brunswick, spanning over the Northumberland Strait. The VINCI Group had been involved throughout the construction phase of the bridge, the world’s longest over ice-covered water.
With this acquisition, VINCI Highways, a long-term shareholder of SCDI, increases its stake in the company from 19.9% to 85%. It will be fully consolidated by VINCI. SCDI generated revenues of €30.8M in 2019.
The closing of the transaction remains subject to obtaining the regulatory authorizations from the competent authorities.
The VINCI Group employs 5,200 people in Canada and earned €1.6 billion in total revenue in the country in 2021.
About VINCI Highways
VINCI Highways, a VINCI Concessions subsidiary, is a leader in road concessions, operations and mobility services. We design, finance, build and operate motorways, bridges, tunnels, urban roads and mobility services on a network of more than 4,000 km in 16 countries. VINCI Highways leverages its expertise to deliver the highest performance and safety standards and treat drivers to a positive experience. More information: https://www.vinci-concessions.com/vinci-highways