WSP closes $1.31 bln acquisition of Parsons Brinckerhoff
WSP Global Inc (TSX: WSP) has closed its previously announced acquisition of Parsons Brinckerhoff, a subsidiary of U.K.-based infrastructure business Balfour Beatty Plc. The final purchase price was US$1.31 billion, including preliminary working capital adjustments and cash retained by Parsons of US$85.5 million, but excluding debt. Acquisition funding totaling $400 million was provided by Canada Pension Plan Investment Board (CPPIB) and the Caisse de depot et placement du Quebec. With the close of the deal, CPPIB and the Caisse will own around 17.3 percent and 17.5 percent, respectively, of the issued and outstanding common shares of the Montréal-based WSP.
31 October 2014•5 mins read
