May 8, 2019 / 2:10 PM / in 13 days

Embattled SNC-Lavalin considers spinning off some units - Globe and Mail

May 8 (Reuters) - Engineering and construction firm SNC-Lavalin Group Inc has told investors it might spin out some of its businesses before a criminal case against the company ever gets to trial, the Globe and Mail reported here on Tuesday.

SNC-Lavalin is facing fraud and corruption charges related to allegations that former executives paid bribes to win contracts in Libya under Muammar Gaddafi’s regime.

Shares of the company have fallen 40 percent so far this year.

SNC-Lavalin executives told institutional investors at a private luncheon last Friday that the company’s “Plan B” was about generating more value for shareholders and certain businesses could be spun out, the report said, citing two people who attended the meeting.

The company did not immediately respond to a Reuters request for comment.

Reporting by Debroop Roy in Bengaluru; Editing by James Emmanuel

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