Kentz sells for €1.45bn to SNC

Canadian engineering and construction company SNC-Lavalin Group said yesterday that it would acquire Tipperary-based energy services provider Kentz Corp for about £1.164bn (€1.45bn) in cash to expand its offerings in the oil and gas sector.

Montreal-based SNC said the acquisition would allow it to carry out larger and more complex oil and gas projects.

The deal would also give SNC a much greater presence in key growth regions such as the Middle East, North America and Asia Pacific.