Aecon to use divestment to pay down revolving credit facility

Chicago, March 1 – Aecon Group Inc. announced that the proceeds from the sale of its roadbuilding business in Ontario will be used to pay down its revolving credit facility, according to a press release.

The company is selling the business to Green Infrastructure Partners for C$235 million.

“This transaction is consistent with Aecon's goal of targeting prudent balance sheet leverage and liquidity and also reduces the overall capital intensity of Aecon's business,” according to Jean-Louis Servranckx, president and chief executive officer of Aecon, in the news release.

Aecon Group is a Toronto-based construction and infrastructure development company.

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