SNC-Lavalin sells its stake in Groupe Immobilier Ovation to Industrial Alliance Insurance and Financial Services Inc.

On September 30th, 2014, SNC-Lavalin announced that it sold its 100-percent interest in Groupe Immobilier Ovation to Industrial Alliance Insurance and Financial Services Inc. (Industrial Alliance). Groupe Immobilier Ovation owns the concession rights to Montreal’s Maison symphonique concert hall, the permanent home of the Montreal Symphony Orchestra. In 2009, Québec’s Ministère de la Culture et des Communications partnered with Groupe Immobilier Ovation to finance, design, build and operate the Maison symphonique under a public-private partnership (P3) procurement model. Completed on budget and on schedule in 2011, the 2,100-seat concert hall was designed and built to meet the highest standards for acoustics, stage design and architecture.

SNC-Lavalin was represented in-house by Jean-Philippe Gagné and by Norton Rose Fulbright Canada LLP with a team composed of Alain Ricard, Éric Stevens and Renée Loiselle.