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.
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.