MONTREAL, Sept. 30, 2013 /CNW Telbec/ – SNC-Lavalin (TSX: SNC) today
announced that its Board of Directors has authorized the Company to
initiate a process to sell an equity stake in AltaLink, Alberta’s
largest regulated electricity transmission company. This process is an
important step forward in the implementation of the Company’s strategic
plan, announced at its Annual General Meeting last May, to consider the
reconfiguration and reduction of its ownership in principal assets
within its Infrastructure Concession Investments portfolio.

“AltaLink is a tremendous asset. The ongoing expansion program will
continue to position it for substantial growth,” said Robert G. Card,
President and Chief Executive Officer, SNC-Lavalin Group Inc. “Through
the Company’s expertise in Transmission & Distribution project
development, AltaLink has become a unique asset that has achieved the
strategic objectives necessary to offer value to new investors, whether
public shareholders or financial or strategic partners.”

Founded in 2002, AltaLink is Canada’s only fully independent
transmission company, and maintains and operates approximately 12,000
kilometres of transmission lines and 280 substations in the province.
AltaLink owns more than half of Alberta’s transmission grid and serves
85 percent of its population.

“This announcement represents a significant advancement of our plan to
rebalance our portfolio of infrastructure concessions to build value
for our Company,” said Gerry Grigoropoulos, Executive Vice-President,
Infrastructure Concession Investments, SNC-Lavalin Group Inc. “The
continued execution of our strategic plan was also recently
demonstrated by the agreement to sell 66% of our interest in Astoria
Project Partners II. In addition, our contract award for Ottawa’s
first-ever light rail transit system, as part of the Rideau Transit
Group Partnership, highlights our ability to replenish high-value
Engineering and Construction (E&C) work and concession opportunities.”

As presented in SNC-Lavalin’s strategic plan this past May, the Company
is targeting growth in key E&C markets with a focus on the Resources
sector, including oil and gas, mining and metallurgy, and environment
and water. It will also seek sustained growth in its existing
world-class Clean Power and Infrastructure E&C businesses, while
continuing to move forward with its fully integrated services strategy,
including project financing, engineering, construction and operations
and maintenance.

SNC-Lavalin will explore all options for the sale, including: private
sale, public market alternatives or strategic partnership. SNC-Lavalin
does not intend to comment further regarding the exploration of options
for the sale of an equity stake in AltaLink until such time as the
Board has determined the outcome of the process or has otherwise deemed
that disclosure is appropriate or required.

SNC-Lavalin has engaged Morgan Stanley and RBC Capital Markets as
financial advisors to assist in this process.

SNC-Lavalin is one of the leading engineering and construction groups in
the world, and is a major player in the ownership of infrastructure and
in the provision of operations and maintenance services. Founded in
1911, SNC-Lavalin has offices across Canada and in over 40 other
countries around the world, and is currently active in some 100
countries. www.snclavalin.com

SOURCE SNC-Lavalin