SNC-Lavalin completes takeover of AltaLink

SNC-Lavalin has closed the previously announced acquisition of Macquarie Essential Assets Partnership’s (MEAP) 23.08 per cent ownership interest in Calgary-based AltaLink L.P. to gain full ownership.

“We’re very happy the regulatory approvals have been received and the transaction has closed,” said Gilles Laramée, executive vice-president and chief financial officer, SNC-Lavalin Group Inc.

“With its technical expertise and extensive experience throughout the province, AltaLink will continue to supply safe, reliable and efficient electricity to Albertans.”

AltaLink is Canada’s only fully independent transmission company, and is responsible for the maintenance and operation of about 12,000 km 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.

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