Topic: How To Invest

The Successful Investor Hotline – Friday, June 14, 2019

Article Excerpt

SNC-LAVALIN GROUP INC., $25.52, Toronto symbol SNC, is a leading Canadian engineering and construction company that specializes in large-scale infrastructure projects such as roads, bridges, transit systems and water-treatment plants. The stock rose 6% this week on news that chief operating officer Ian Edwards is now the interim chief executive officer following the retirement of Neil Bruce. Even after this week’s gain, SNC’s shares are still down 58% in the past year. That’s mainly because the company continues to face criminal charges that it used bribes to win construction contracts in Libya between 2001 and 2011. If convicted, the courts could ban SNC from bidding on new federal government construction contracts for 10 years. The company’s new CEO is now conducting a strategic review of its operations. That could lead to the sale or spinoff of SNC’s more-risky operations such as those that serve mining and oil drilling clients. The company could also try to merge with another firm, or put itself up…