Aecon Group Inc. has signed a deal to sell its road building business in Ontario to Green Infrastructure Partners Inc. (GIP) for $235 million in cash.
Under the agreement, GIP will acquire Aecon Transportation East (ATE), which builds roads throughout Ontario for the provincial government, municipalities and private clients.
Get breaking National news
Aecon says it will sign a strategic co-operation agreement with GIP upon the closing of the deal
ATE has a workforce of about 1,000 employees.
- Summerland residents begin returning home as roughly 1,200 properties cleared for re-entry
- B.C. plywood manufacturer says it cannot absorb 50% tariff cost as deadline looms
- Nova Scotia minister faces calls to resign over resurfaced rap lyrics
- Maritime diaper banks report growing demand as families struggle with costs
-
![]()
Porter flight cancelled due to child’s refusal to wear seatbelt -
![]()
Canada-US trade talks continue in Washington ahead of 50% tariff deadline -
![]()
Poilievre says ‘no more concessions’ as Canada-U.S. officials meet ahead of 50% tariff deadline -
![]()
If a new poll is to be believed, there is a deep distrust of the B.C. government’s policies dealing with addiction and homelessness.
Aecon says it plans to use the net proceeds from the sale to pay down debt.
Aecon Group CEO Jean-Louis Servranckx says the sale is consistent with the company’s goal of targeting prudent balance sheet leverage and liquidity and also reduces the overall capital intensity of Aecon’s business.
Comments
Want to discuss? Please read our Commenting Policy first.