SNC-Lavalin Finalizes Sale of 100% of its interest in AltaLink to Berkshire Hathaway Energy

On December 1st, 2014, SNC-Lavalin announced that it had reached financial close on the sale of its 100-percent interest in AltaLink, Alberta’s largest regulated energy transmission company, to Berkshire Hathaway Energy (Berkshire). This follows the receipt of regulatory approvals from the Alberta Utilities Commission and approvals pursuant to the Competition Act and Investment Canada Act. Based on the terms of the agreement, the transaction values AltaLink at approximately C$7.2 billion and will result in gross proceeds to SNC-Lavalin of approximately C$3.1 billion.

SNC-Lavalin was represented in-house by Michel Jodoin and by Norton Rose Fulbright Canada LLP with a team led by Eric Stevens and composed of Stephen Kelly, Elliot Shapiro, Mathieu Deschamps, David Crandall, Marly Ochmann St-Jean and Michelle Felsky (Montreal Corporate), Rashi Sengar, and Kirk A. Litvenenko (Calgary Corporate), Bernette Ho (Calgary Regulatory), Richard A. Wagner, Thierry Dorval and Stephen Nattrass (Ottawa and Montreal Competition and Investment Canada), Derek Chiasson, Antoine Desroches and Jonathan Lafrance (Montreal Tax), Clarke Hunter, Aldo Argento and Ruth I. Wahl (Calgary and Toronto Litigation), and Alain Ricard, Robert Borduas, Michael R. Moher, and Melanie Dupuis-Giuliani (Montreal and Toronto Banking).