Hints and tips:
...Under the deal, SNC-Lavalin Construction, a subsidiary of SNC-Lavalin, pled guilty to a single fraud charge....
...SNC-Lavalin faces charges of fraud and corruption related to alleged payments worth C$47.7m made to Libyan officials between 2001 and 2011....
...But he has disagreed with the conclusion that “any contact” with Ms Wilson-Raybould on the SNC-Lavalin file “was improper”....
...Mr Trudeau’s popularity among Canadian voters had waned well before the SNC-Lavalin controversy....
...What is SNC-Lavalin accused of?...
...Earlier this week, a second member of Mr Trudeau’s cabinet resigned in the SNC-Lavalin affair....
...SNC-Lavalin employs about 9,000 people across Canada, with close to 40 per cent of its employees working in Mr Trudeau’s home province of Quebec....
...The backlash had already started to appear at the provincial level before the SNC-Lavalin scandal....
...Trudeau that she had “serious concerns” over allegations that Jody Wilson-Raybould, the former attorney-general, had been pressured by politicians to settle corruption charges against engineering company SNC-Lavalin...
...In 2014, it acquired AltaLink, a Canadian electric utility, for $5.5bn from SNC-Lavalin....
...Others including SNC-Lavalin and Schlumberger, another oil services group, accepted the notes at later dates. Mr Dallen said an additional $800m to $1.5bn of the notes had been issued....
...China stepped in after the World Bank cancelled a $1.2bn credit line for the scheme, saying it had found “credible evidence” of corruption involving government officials and certain executives from SNC-Lavalin...
...SNC-Lavalin says it expects to realise C$120m of annual cost savings by the end of next year following the combination....
...The deal is the latest in the UK market by SNC-Lavalin, which struck a £1.16bn deal for Kentz Corporation, the oil and gas services specialist, in 2014....
...British engineering consultancy WS Atkins reported a “strong” final set of results as an independent company, growing profits by more than 12 per cent as it prepares for a £2.1bn takeover by Canadian rival SNC-Lavalin...
...Atkins’ shares are now up nearly 34 per cent so far this year, while SNC-Lavalin shares are down nearly 10 per cent year-to-date....
...Oil and gas projects make up the bulk of SNC-Lavalin’s business. With cost cuts factored in, it had already expected to increase earnings in 2017....
...No other bidders have come forward since SNC-Lavalin trailed its offer three weeks ago....
...Atkins said talks with SNC-Lavalin were conditional on matters including financing and due diligence....
...SNC-Lavalin said it will pay £20.80 per WS Atkins share, a 35 per cent premium to its undisturbed price....
...SNC-Lavalin, the Canadian engineering and construction group, said on April 3 they had offered £2.08bn for the company....
...● Lex: SNC-Lavalin/Atkins — Canuck the dots...
...SNC-Lavalin of Canada and Petrofac of the UK are among those eyeing opportunities among the fallout from last week’s agreed deal to bring together the two biggest service providers to oil and gas companies...
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