Jarislowsky Fraser throws lifeline to scandal-battered SNC-Lavalin [Business News Network (BNN) Energy & Resources (Canada)]
Bank Nova Scotia Halifax Pfd 3 Ordinary Shares (BNS)
Last bank nova scotia halifax pfd 3 ordinary shares earnings: 2/25 05:30 am
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Source: Business News Network
Jarislowsky Fraser throws lifeline to scandal-battered SNC-Lavalin SNC-Lavalin Group Inc., the embattled Canadian engineering firm that has seen its stock spiral this year, just got some good news: Jarislowsky Fraser Ltd. purchased shares in the company, taking its stake to 11 per cent. The $38 billion asset manager, now owned by the Bank of Nova Scotia, holds almost 19 million shares of SNC-Lavalin as of Aug. 31, according to an Aug. 10 filing. This is the first time the fund has purchased shares in the company since 2013. SNC-Lavalin climbed as much as 11per cent in early trading Wednesday, extending its rally for a second day. Earlier this year, Stephen Jarislowsky, founder of the Montreal-based investment firm, called on SNC-Lavalin to allow shareholders to vote on SNC’s proposed sale of a stake in a Toronto toll road to Canada Pension Plan Investment Board. The 10.01per cent stake sale for as much as $3.25 billion was completed last month. SNC-Lavalin’s shares have climbed about
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