WSP has got the green light to finalise its purchase of Opus International for £146M.
The purchase is being financed using WSP cash and loans and it has been given the green light by Canada’s regulatory authorities.
A total of 92.5% of Opus shares will be sold by shareholders who accepted WSPs offer and WSP will acquire the rest through compulsory acquisition.
“With the acquisition of Opus, we will continue to deliver on our strategic ambition of enhancing our activities in the Australia/New Zealand region. This combination of two like-minded firms will make us stronger and increase our ability to deliver superior value to our clients, shareholders and our collective employees,” said WSP president and chief executive Alexandre L’Heureux. “We will now focus on expanding and diversifying our portfolio of expertise, by leveraging Opus’ expertise in the infrastructure (transportation and water) and building sectors as well as in asset management”.
“Today is an historic day for Opus. By joining WSP, we will significantly strengthen our competitive position across the world, providing us with access to the global network and the expertise of one of the leading firms in our industry. This will not only benefit our clients, but it will also provide significant development opportunities for our employees,” added Opus chief executive David Prentice.