SNC spent C$175 million in 1999 for an equity stake of about 23 % in 407 International and sold around 6 % of its holding in 2002 for C$178.2 million. SNC now owns about 17 %, Spain's Ferrovial owns 43 % and Canada Pension Plan Investment Board (CPPIB), 40 %.
407 International has a 99-year concession since 1999 to operate the 108-kilometer (67-mile) bypass around Toronto.
According to analysts, the sale could fetch as much as C$3 billion ($2.5 billion).
During the last month we have reported about two Canadian PPP projects awarded to the firm.
SNC-Lavalin companies provide engineering, procurement, construction, project management and project financing services to a variety of industry sectors, including agrifood, pharmaceuticals and biotechnology, hydrocarbons & chemicals, environment, heavy construction, mass transit, mining and metallurgy, power and water management.