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Atkinsrealis Group Inc
Symbol ATRL
Shares Issued 175,272,970
Close 2024-06-13 C$ 57.99
Market Cap C$ 10,164,079,530
Recent Sedar Documents

Globe says AtkinsRealis to sell Highway 407 interest

2024-06-14 08:17 ET - In the News

The Globe and Mail reports in its Friday edition that AtkinsRéalis, the former SNC-Lavalin, is aiming to sell its share of Toronto's Highway 407 ETR toll road within three years as it pushes on with a strategic revamp it says has re-energized the business. The Globe's Nicolas Van Praet writes that Montreal-based company intends to unload its 6.76-per-cent position by the end of 2027, chief executive officer Ian Edwards told analysts and investors gathered Thursday in Toronto. The stake is worth an estimated $1.7-billion. "We've transformed this company. We've simplified it," Mr. Edwards said. "As we further optimize to expand our margins, we will take any measures we need to get there. We are moving towards divesting the 407." Mr. Edwards, a civil engineer now in his fifth year as CEO, is trying to re-establish the corporation as a go-to partner for governments and other customers as it claws its way back from years of crisis and scandal. He has reshaped the company by selling oil and gas assets and pivoting toward a business model centred on engineering consulting work and nuclear energy technology. At the same time, the riskier fixed-price construction contracts that have consumed cash for years are being wound down.

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