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AtkinsRéalis Signs Agreements to Sell all of its Remaining 6.76% Interest in Highway 407 ETR to Ferrovial and CPP Investments for up to approximately $2.79 Billion
AtkinsRéalis Signs Agreements to Sell all of its Remaining 6.76% Interest in Highway 407 ETR...
About this update from Atkinsrealis Group Inc.
[{"type":"text","content":"\n\n\n\n AtkinsRéalis Signs Agreements to Sell all of its Remaining 6.76% Interest in Highway 407 ETR to Ferrovial and CPP Investments for up to approximately $2.79 Billion\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n MONTREAL\n \n\n ,\n \n\n March 13, 2025\n \n\n /CNW/ - AtkinsRéalis Group Inc. (TSX: ATRL), a world-class engineering services and nuclear company with offices around the world, today announced it has entered into agreements with a subsidiary of Ferrovial SE (\"Ferrovial\"), and with a subsidiary of Canada Pension Plan Investment Board (\"CPP Investments\") to sell all of its remaining 6.76% interest in the shares of 407 International Inc. (\"Highway 407 ETR\"), a toll highway traversing the\n \n Greater Toronto Area\n \n , in\n \n Ontario, Canada\n \n , for total gross proceeds of up to approximately\n \n $2.79 billion\n \n .\n \n\n\n\n\n\n\n\n\n The sale of AtkinsRéalis' remaining 6.76% interest in Highway 407 ETR will be concluded through a Share Purchase Agreement and a Put and Call Option Agreement.\n \n\n\n\n Sale of 5.06% Interest in Highway 407 ETR to Ferrovial\n \n\n\n\n This transaction is structured in two tranches, with 3.30% of the shares of Highway 407 ETR being sold under a Share Purchase Agreement, payable at closing, and the remaining 1.76% to be sold under a Put and Call Option Agreement (the \"Ferrovial Put and Call Agreement\"), upon exercise of either Ferrovial's call option or upon exercise of AtkinsRéalis' put option during the 18-month post-closing period.\n \n\n The overall transaction for the 5.06% interest in Highway 407 ETR is priced at approximately\n \n $2.09 billion\n \n , with the exercise price for the put and call option to be adjusted, based on an agreed formula taking into account when it will be exercised.\n \n\n\n\n Sale of 1.70% Interest in Highway 407 ETR to CPP Investments\n \n\n\n\n Under the same Share Purchase Agreement entered into with Ferrovial, CPP Investments has...