SNC-Lavalin says it is not for sale after newspaper report

Wed Jun 3, 2015 4:34pm EDT
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TORONTO, June 3 (Reuters) - Canadian engineering and construction company SNC-Lavalin Group Inc said on Wednesday it is not for sale after a newspaper report citing unnamed sources said it had been "informally" approached by two possible buyers.

The National Post newspaper reported that Australia's WorleyParsons Ltd and Spain's Actividades de Construccion y Servicios SA are considering a bid, citing "sources familiar with events" at SNC.

Neither company could immediately be reached for comment outside of normal business hours.

"I can confirm that SNC-Lavalin is not for sale," said SNC spokesman Louis-Antoine Paquin in an email.

SNC is in the midst of a years-long scandal involving allegations of fraud and bribery by former executives.

In February, Canadian police laid corruption charges against SNC, which said it would plead not guilty and urged authorities to charge individuals rather than the company as a whole.

SNC-Lavalin shares closed up 2 percent at C$46.51 on the Toronto Stock Exchange. (Reporting by Allison Martell. Editing by Andre Grenon)