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Cision Canada
06-06-2025
- Business
- Cision Canada
AtkinsRéalis Completes Sale of Remaining 6.76% Interest in Highway 407 ETR Français
MONTREAL, June 6, 2025 /CNW/ - AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, today announced that it has completed the previously announced transactions for the sale by AtkinsRéalis of shares of 407 International Inc. ("Highway 407 ETR") with each of a subsidiary of Canada Pension Plan Investment Board ("CPP Investments") and a subsidiary of Ferrovial SE ("Ferrovial") under the Share Purchase Agreement entered into by all of the parties, and that all closing steps have been initiated under the Put and Call Agreement entered into by AtkinsRéalis with Ferrovial, in each case in accordance with the financial terms and conditions of such agreements as disclosed by AtkinsRéalis on March 13, 2025. As a result of the deferred portion of the consideration under the Share Purchase Agreement and the exercise of the call option under the Put and Call Agreement both being exercised at the beginning of the 18 month post-closing window, total gross proceeds for these elements of the transaction were adjusted in line with the agreed formulas, and total proceeds for the complete sale of AtkinsRéalis' 6.76% interest will be approximately $2.6 billion. Management now expects a low to mid-single digit percentage effective cash tax rate on the net gain on the sale through the use of the Company's available non-capital losses. Certain sale proceeds were received by AtkinsRéalis at closing of the transactions under the Share Purchase Agreement and all remaining proceeds under both agreements are expected to be paid to AtkinsRéalis within the next three business days. Following the closing of the above-described transactions, AtkinsRéalis will no longer hold any interest in Highway 407 ETR. AtkinsRéalis also announced today that, in connection with the closing of the sale transactions, it has repaid in full the $400 million principal that had been outstanding under its limited recourse loan agreement with a subsidiary of Caisse de dépôt et placement du Québec and that such loan agreement has thus been terminated. The remainder of the net proceeds from the transactions will be deployed in line with the Company's capital allocation priorities outlined at its 2024 Investor Day, and based on what management and the board of directors believe would be in the best interests of the Company and most accretive to shareholder value over time. This would include paying down indebtedness, potentially funding additional growth through small and mid-size acquisitions and returning capital to shareholders. RBC Capital Markets is acting as financial advisor and Norton Rose Fulbright is acting as legal advisor to AtkinsRéalis. About AtkinsRéalis Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at or follow us on LinkedIn. Forward-Looking Statements References in this press release to the "Company", "AtkinsRéalis", "we", us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies constitute "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "estimates", "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or other variations thereon. The statements made by the Company in this press release regarding the expected timing for closing and receipt of proceeds under the transactions described herein are forward-looking statements. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that future outcomes could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.
Yahoo
06-06-2025
- Business
- Yahoo
AtkinsRéalis Completes Sale of Remaining 6.76% Interest in Highway 407 ETR
MONTREAL, June 6, 2025 /CNW/ - AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, today announced that it has completed the previously announced transactions for the sale by AtkinsRéalis of shares of 407 International Inc. ("Highway 407 ETR") with each of a subsidiary of Canada Pension Plan Investment Board ("CPP Investments") and a subsidiary of Ferrovial SE ("Ferrovial") under the Share Purchase Agreement entered into by all of the parties, and that all closing steps have been initiated under the Put and Call Agreement entered into by AtkinsRéalis with Ferrovial, in each case in accordance with the financial terms and conditions of such agreements as disclosed by AtkinsRéalis on March 13, 2025. As a result of the deferred portion of the consideration under the Share Purchase Agreement and the exercise of the call option under the Put and Call Agreement both being exercised at the beginning of the 18 month post-closing window, total gross proceeds for these elements of the transaction were adjusted in line with the agreed formulas, and total proceeds for the complete sale of AtkinsRéalis' 6.76% interest will be approximately $2.6 billion. Management now expects a low to mid-single digit percentage effective cash tax rate on the net gain on the sale through the use of the Company's available non-capital losses. Certain sale proceeds were received by AtkinsRéalis at closing of the transactions under the Share Purchase Agreement and all remaining proceeds under both agreements are expected to be paid to AtkinsRéalis within the next three business days. Following the closing of the above-described transactions, AtkinsRéalis will no longer hold any interest in Highway 407 ETR. AtkinsRéalis also announced today that, in connection with the closing of the sale transactions, it has repaid in full the $400 million principal that had been outstanding under its limited recourse loan agreement with a subsidiary of Caisse de dépôt et placement du Québec and that such loan agreement has thus been terminated. The remainder of the net proceeds from the transactions will be deployed in line with the Company's capital allocation priorities outlined at its 2024 Investor Day, and based on what management and the board of directors believe would be in the best interests of the Company and most accretive to shareholder value over time. This would include paying down indebtedness, potentially funding additional growth through small and mid-size acquisitions and returning capital to shareholders. RBC Capital Markets is acting as financial advisor and Norton Rose Fulbright is acting as legal advisor to AtkinsRéalis. About AtkinsRéalis Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital. News and information are available at or follow us on LinkedIn. Forward-Looking Statements References in this press release to the "Company", "AtkinsRéalis", "we", us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies constitute "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "estimates", "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or other variations thereon. The statements made by the Company in this press release regarding the expected timing for closing and receipt of proceeds under the transactions described herein are forward-looking statements. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that future outcomes could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement. SOURCE AtkinsRéalis View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Borneo Post
26-05-2025
- Business
- Borneo Post
AirBorneo set to take flight by end-2025 following MASwings acquisition
Lee speaking during a press conference held in the State Legislative Assembly building today. – Photo by Roystein Emmor KUCHING (May 26): Sarawak's very own airline, AirBorneo, is on track to officially take to the skies by the end of 2025, following the full acquisition of MASwings Sdn Bhd from Malaysia Aviation Group (MAG), said Sarawak Transport Minister Dato Sri Lee Kim Shin. According to him, the Share Purchase Agreement between the Sarawak Government and MAG was signed on Feb 12 this year, with the legal and beneficial ownership of MASwings expected to be transferred to AirBorneo Holdings Sdn Bhd by Dec 31, 2025. 'All stakeholders are actively working to fulfil the necessary regulatory, operational and legal requirements during this transition period to ensure a seamless handover. 'AirBorneo will also focus on enhancing regional and international air connectivity, while continuing to serve rural areas under the Rural Air Services (RAS),' he added in his ministerial winding-up speech at the State Legislative Assembly (DUN) sitting today. A key initiative during the rebranding process is the AirBorneo Logo and Livery Design Competition, which launched on March 5 and attracted nearly 1,000 entries. He said the winning design will reflect Sarawak's rich cultural heritage and forward-looking vision. 'AirBorneo is poised to strike a balance between improved connectivity, affordable fares, and economic benefits. This positions Sarawak as a key player in the regional aviation industry,' he said. Apart from that, he said to ensure service continuity, all MASwings staff will be retained post-acquisition, leveraging their experience to maintain reliability. He also assured that the schedule, frequency and routes under the RAS network will remain unchanged during and after the transition. As of the first quarter of 2025, MASwings recorded 191,837 passengers and 26.6 tonnes of cargo across its RAS routes, with 8,670 aircraft movements, underscoring the importance of rural connectivity in Sarawak. Meanwhile in his speech, Lee also highlighted a strong rebound in Sarawak's air traffic, with 30,980 aircraft movements and 2.5 million passengers recorded in the first quarter of 2025, which is an eight per cent increase compared to the same period last year. 'Air cargo movements also surged by 23.3 per cent to 14,438 tonnes, driven by rising demand for electronics, oil and gas equipment, e-commerce goods, perishables and general cargo. 'Internationally, Sarawak currently sees 37 international flights per week, while domestic routes from other Malaysian states contribute an average of 427 weekly flights. Kuching International Airport remains the busiest hub with 216 weekly flights, followed by Miri (99), Sibu (55), and Bintulu (45),' he said. In a related development, Lee announced that Batik Air will launch a new Subang–Kuching route starting July 28, 2025. On intra-state connectivity, Sarawak recorded an average of 620 domestic flights weekly in the first quarter, linking urban centres with rural settlements. 'Miri leads with 181 flights per week, followed by Kuching (142), Sibu (66), and Bintulu (40). These routes are served by AirAsia, Firefly, and MASwings,' he said. Lee also said that with AirBorneo and robust air connectivity growth, Sarawak is laying a strong foundation for inclusive, sustainable development and a thriving aerospace industry. AirBorneo DUN sitting lead Lee Kim Shin MASWings Sdn Bhd
Business Recorder
08-05-2025
- Business
- Business Recorder
Cherat Cement, Shirazi Investments plan to acquire majority stake in Rafhan Maize
Cherat Cement Company Limited (CCCL) and Shirazi Investments (Private) Limited have expressed their intention to acquire up to 75.69% stake in Rafhan Maize Products Company Limited (RMPL), one of Pakistan's largest agro-based companies. Topline Securities, appointed Manager to the Offer, disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday. 'We, Topline Securities Limited, have been appointed as Manager to the Offer by Cherat Cement Company Limited and Shirazi Investments (Private) Limited, in accordance with the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017. 'On behalf of the acquirers, we would like to submit the Public Announcement of Intention to acquire up to 75.69% shares of Rafhan Maize Products Company Limited, subject to receipt of regulatory and other approvals, if any,' read the notice. The development comes days after it was learnt that Ingredion Incorporated, a US-based food and beverage ingredient provider, is evaluating offers to sell its stake in RMPL. Giving a brief description of the intended acquisition, the notice stated that under the Share Purchase Agreement (SPA), Cherat Cement and Shirazi Investments each plan to directly acquire up to 3,495,526 shares, which is up to 37.845% of Rafhan Maize's paid-up capital each. Combined, they aim to acquire up to 6,991,052 shares or 75.69% of the company. However, the number of shares they might offer to buy from the public is 'not determinable at this stage' and will be determined after the SPA is signed. Cherat Cement Company Limited is publicly listed on the Pakistan Stock Exchange and is engaged in cement manufacturing. 'With a state-of-the-art production infrastructure and an installed capacity of 4.5 million tons per annum, it primarily serves the northern region of Pakistan. CCCL also plays an active role in regional trade, exporting cement to Afghanistan,' read the notice. Meanwhile, Shirazi Investments (Private) Limited operates as the investment arm of Atlas Group, a diversified conglomerate with investments in engineering, power, finance, and trading businesses, renowned for its strategic investments and strong governance.
Business Recorder
07-05-2025
- Business
- Business Recorder
Secure Logistics gets CCP approval to acquire Trax Online
The Competition Commission of Pakistan (CCP) on Wednesday approved the complete acquisition of Trax Online (Pvt.) Ltd. by Secure Logistics Group Ltd. under a Share Purchase Agreement (SPA). According to a press statement, both parties had submitted a pre-merger application in line with the Competition Act, 2010. The CCP's review identified the relevant product market as courier and e-commerce logistics services in Pakistan. CCP said that the deal is a conglomerate merger with no horizontal or vertical overlaps, and concluded that the transaction will not result in dominance or lessen competition in the relevant market. Pakistan's SLGL secures transport services deal with Maersk Secure Logistics Group Ltd. (SLGL) is a publicly listed company offering long-haul and medium-haul logistics, asset tracking, fleet management, and security services. In the quarter ending March 31, 2025, SLGL posted a profit of Rs160 million, translating into an earnings per share of Re0.59. Meanwhile, Trax Online (Pvt.) Ltd. is a private company focused on warehousing and door-to-door delivery for e-commerce clients. 'The acquisition is expected to enhance operational synergies and support the growth of Pakistan's digital logistics ecosystem,' CCP stated.
