MONTREAL, QUEBEC–(Marketwired – Nov. 26, 2017) – WSP Global Inc. (TSX:WSP) (“WSP” or the “Corporation”) is pleased to announce that it has obtained the consent of the Overseas Investment Office to its application filed on August 22, 2017, in the context of the proposed acquisition of Opus International Consultants Limited (NZSE:OIC) (“Opus”). The purchase price, which amounts to NZ$283.9 million (C$262.5 million), will be financed using WSP's available cash and credit facilities.
With such consent, WSP's offer for all the shares of Opus has now been declared unconditional and since WSP has currently received acceptances in respect of 95.2% of the shares of Opus, the Corporation will exercise its statutory right to compulsory acquire the remaining shares of Opus as soon as it is able to do so. WSP's offer remains open for acceptance until 11:59 pm on November 27, 2017. After such date, WSP will start paying shareholders whose shares have been tendered, which will occur within a 7-day timeframe.
“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 Alexandre L'Heureux, President and Chief Executive Officer of WSP. “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”, commented David Prentice, Opus' Chief Executive.
As one of the world's leading professional services firms, WSP provides technical expertise and strategic advice to clients in the Property & Buildings, Transportation & Infrastructure, Environment, Industry, Resources (including Mining and Oil & Gas) and Power & Energy sectors. We also offer highly specialized services in project delivery and strategic consulting. Our experts include engineers, advisors, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, program and construction management professionals. With approximately 42,000 talented people in more than 500 offices across 40 countries, we are uniquely positioned to deliver successful and sustainable projects, wherever our clients need us. www.wsp.com
Certain information regarding WSP contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although WSP believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. WSP's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The complete version of the cautionary note regarding forward-looking statements as well as a description of the relevant assumptions and risk factors likely to affect WSP's actual or projected results are included in the Management's Discussion and Analysis for the year ended December 31, 2016, which is available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and WSP does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless expressly required by applicable securities laws.
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