Premier Francois Legault says he's not ruling out financial protection for SNC-Lavallin
The Canadian Press
Published Saturday, March 16, 2019 11:09AM EDT
Quebec Premier Francois Legault is not ruling out help for embattled engineering giant S-N-C Lavalin.
He says his government could buy shares in order to prevent the company from being sold or dismantled.
Legault says all options are on the table when it comes to saving the troubled Montreal-based firm and the thousands of jobs it provides.
The province's pension fund manager already has a stake of about 20 per cent in the company, but not enough to form a blocking minority.
S-N-C-Lavalin is currently facing fraud charges stemming from alleged dealings with the Libyan regime under Moammar Gadhafi between 2001 and 2011.
A conviction would mean a 10-year ban from bidding on federal contracts, which could cripple the company.
Former attorney general Jody Wilson-Raybould quit Prime Minister Justin Trudeau's cabinet last month, testifying later that he and his staff inappropriately pressured her to negotiate a remediation agreement that would allow the company to avoid criminal charges.
Legault told reporters in Bromont, Quebec yesterday he has spoken with Trudeau on the need to find a way to save S-N-C-Lavalin and the jobs.