Press Releases

  • Tuesday, March 24, 2015
    WSP Agrees to Sell All of its Shares in Norwegian Company Multiconsult AS

    MONTREAL, QUEBEC--(Marketwired - March 24, 2015) - WSP Global Inc. (TSX:WSP) ("WSP" or the "Corporation") today announced that, through its subsidiary WSP Europe AB, it has entered into an agreement with the Multiconsult Foundation (the "Foundation") pursuant to which WSP has agreed to sell all of its shares in Multiconsult AS ("Multiconsult"), representing 24.73% of the issued and outstanding shares of Multiconsult, to the Foundation (the "Shares"). The Foundation is currently a shareholder of Multiconsult and owns approximately 21% of the shares of Multiconsult. The transaction is subject to the completion of the proposed initial public offering of Multiconsult on the Oslo Stock Exchange (the "IPO") and to other customary closing conditions. If all conditions precedent are satisfied prior to June 30, 2015, the Shares will be transferred to the Foundation shortly prior to the closing of the IPO. The total gross proceeds to WSP would be approximately $85-95 million.

    Pierre Shoiry, Chief Executive Officer WSP Global had the following comments in connection with the sale:

    "WSP has been a long time shareholder of Multiconsult and we are selling our shares to the Foundation to provide the required float to ensure a successful IPO. It is not our strategy to hold minority positions in our operating companies and this scenario meets the objectives of both companies, while creating value for our shareholders. We wish Multiconsult continued success and hope for a successful IPO".

    Closing of the transaction is subject to the satisfaction or waiver of all closing conditions and as such there is no assurance that the sale of the Shares will be completed.

    FORWARD-LOOKING INFORMATION

    Certain information regarding WSP contained herein may constitute forward-looking statements. Forward-looking statements may include statements with respect to 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 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.

    ABOUT WSP

    WSP, through its acquisition of Parsons Brinckerhoff, is one of the world's leading professional services firms in its industry, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines. The firm provides services to transform the built environment and restore the natural environment, and its expertise ranges from environmental remediation to urban planning, from engineering iconic buildings to designing sustainable transport networks, and from developing the energy sources of the future to enabling new ways of extracting essential resources. It has approximately 32,000 employees, including engineers, technicians, scientists, architects, planners, surveyors environmental specialists, as well as other design, program and construction management professionals, based in more than 500 offices, across 39 countries, on 5 continents. www.wspgroup.com

    Pierre Shoiry
    President and CEO
    (514) 340-0046, ext. 5104
    pierre.shoiry@wspgroup.com

    Isabelle Adjahi
    Vice President, Investor Relations
    and Corporate Communications
    (514) 340-0046 ext. 5648
    isabelle.adjahi@wspgroup.com