NANTERRE, FRANCE: VINCI Highways has signed an agreement with OMERS Infrastructure to acquire its 65.1% stake in Strait Crossing Development Inc (SCDI), the company owning the concession contract of the Confederation Bridge until 2032, a statement noted.
The Confederation Bridge (12.9 km) connects since 1997 Prince Edward Island Province and New-Brunswick, spanning over the Northumberland Strait. The VINCI Group had been involved throughout the construction phase of the bridge, the world’s longest over ice-covered water.
With this acquisition, VINCI Highways, a long-term shareholder of SCDI, increases its stake in the company from 19.9% to 85%. It will be fully consolidated by VINCI. SCDI generated revenues of €30.8M in 2019.
The closing of the transaction remains subject to obtaining the regulatory authorizations from the competent authorities.
The VINCI Group employs 5,200 people in Canada and earned €1.6 billion in total revenue in the country in 2021.
VINCI Highways, a VINCI Concessions subsidiary, is a leader in road concessions, operations and mobility services.