VINCI Highways acquires controlling stake in the Confederation Bridge concession
May 27, 2022
On May 27, 2022, VINCI Highways, through its Canadian subsidiary Vinci Concessions Canada Inc. closed a transaction by which it increased its stake in Strait Crossing Development Inc. (“SCDI”) from 19.9% to 85% following the receipt of certain regulatory approvals, including from the Minister of Transportation. SCDI is the owner/operator of the concession contract for the Confederation Bridge which connects Prince Edward Island to New Brunswick and the mainland. VINCI Highways which has been a long-term shareholder of SCDI, was able to increase its stake through the 100% acquisition from OMERS Infrastructure of BPC Maritime Corporation, which holds 65.1% of the equity in SCDI.
Vinci Concessions Canada Inc., headquartered in Montreal, Quebec, is a mobility infrastructure company that uses its integrated model to design, finance, build, operate and maintain airports, motorways and railways.
SCDI, headquartered in Borden-Carleton, Prince Edward Island, is a private sector developer tasked by the Government of Canada with designing, building, financing, and operating the Confederation Bridge.
McCarthy Tetrault advised Vinci Concessions Canada Inc. with a team led by Louis-Nicolas Boulanger that included Claire Gowdy, Suzie Cusson, Benjamin Rivard (Business), Dominic Thérien, and Erin Keogh (Competition).