SNC-Lavalin agrees to sale of real estate unit

Engineering and construction firm SNC-Lavalin has agreed to sell its non-core Real Estate Management Services business to Brookfield GIS for $45 million.

The sale includes SNC-Lavalin’s property and realty management services and is expected to close by the end of the year subject to regulatory and other approvals.

"This acquisition will allow Brookfield GIS to continue to execute on its growth strategy as a leading real estate facilities management services provider across the globe.  We are excited about the opportunity to leverage the scale, knowledge and expertise of the combined operations to enhance the business performance of our existing and newly acquired clients" said Gord Hicks, President and CEO, Americas, Brookfield Global Integrated Solutions.

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