Canada's SNC-Lavalin to buy UK's Kentz for $2 bln

Mon Jun 23, 2014 6:50am EDT
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June 23 (Reuters) - SNC-Lavalin Group Inc, Canada's largest engineering and construction company, said it would buy British energy services provider Kentz Corp Ltd for about 1.164 billion pounds ($1.98 billion) in cash.

SNC-Lavalin said each Kentz shareholder will receive 935 pence per share, a premium of 33 percent to Kentz's Friday close on the London Stock Exchange.

Kentz's shares were trading at 930 pence at 1048 GMT on Monday. ($1 = 0.5876 British Pounds) (Reporting by Karen Rebelo in Bangalore; Editing by Saumyadeb Chakrabarty)