In a statement – Montreal based SNC-Lavalin Group said the deal would give it a greater presence in key growth regions such as the Middle East, North America and Asia Pacific, along with a significant presence in Australia.
Each Kentz shareholder would receive 935 pence per share, a premium of 33% to its close on the London Stock Exchange on Friday and each of the boards backed the deal unanimously.
Founded in Clonmel in 1919 when it started life as a local electrical contractor – Kentz now employs 14,500 people in 36 countries providing engineering, construction and technical support services to the oil and gas and mining industries.
Its clients include Chevron, Royal Dutch Shell, BP and Exxon Mobil
