SNC-Lavalin enters into agreement to sell 66 percent of its interest in Astoria Project Partners II

SNC-Lavalin enters into agreement to sell 66 percent of its interest in 
Astoria Project Partners II 
MONTREAL, Sept. 4, 2013 /CNW Telbec/ - SNC-Lavalin Inc. (TSX: SNC) today 
announced that it has reached an agreement to sell 66 percent of its minority 
interest in Astoria Project Partners II LLC (Astoria II), the owner of the 
legal entity that owns and operates the Astoria II power plant in New York 
City. This transaction is subject to closing conditions, regulatory approvals 
and the provisions of the Astoria II governing documents. 
As presented in SNC-Lavalin's strategic plan this past May, the Company is 
targeting growth in key markets with a focus on the resources sector, 
including oil and gas, mining and metallurgy, and environment and water. It 
will also seek sustained growth in its existing world-class Clean Power and 
Infrastructure business, while continuing to move forward with its fully 
integrated services strategy, including project financing, engineering, 
construction and operations and maintenance. The agreement to sell a part of 
its minority interest in Astoria II is in line with the Company's strategic 
plan to monetize a portion of its mature infrastructure concession 
investments, also announced at the AGM. 
SNC-Lavalin's investment in Astoria II was a catalyst for creating engineering 
and construction project work. In July 2008, SNC-Lavalin and its partners 
began construction of the Astoria II 575-MW thermal energy facility. In 
September 2011, industry trade magazine Power named Astoria II a top gas-fired 
plant, citing SNC-Lavalin's skilled design and construction work in a dense 
urban setting. The New York Power Authority has also recognized Astoria II as 
one of the cleanest and most efficient power plants in New York City's history. 
"From overseeing financial close and construction, to several years of 
successful operation, SNC-Lavalin has now come full circle with Astoria II," 
said Gerry Grigoropoulos, Acting Executive Vice-President, Infrastructure 
Concession Investments, SNC-Lavalin Group Inc. "This sale would provide a good 
return on our monetized investment and represents the creation of value by 
selling certain investments when strategically and financially appropriate, 
and in rebalancing our portfolio of infrastructure concessions." 
SNC-Lavalin is one of the leading engineering and construction groups in the 
world, and is a major player in the ownership of infrastructure and in the 
provision of operations and maintenance services. Founded in 1911, SNC-Lavalin 
has offices across Canada and in over 40 other countries around the world, and 
is currently active in some 100 countries. www.snclavalin.com
 

SOURCE  SNC-Lavalin 
Media: Leslie Quinton Senior Vice-President, Global Corporate Communications 
SNC-Lavalin Group Inc. 514-393-8000, ext. 57354 
leslie.quinton@snclavalin.com  
Investors: Denis Jasmin Vice-President, Investor Relations SNC-Lavalin Group 
Inc. 514-393-8000, ext. 57553 denis.jasmin@snclavalin.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/September2013/04/c4181.html 
CO: SNC-Lavalin
ST: Quebec
NI: CST ERN ORDER  
-0- Sep/04/2013 15:49 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.