Brought to you by: Monaco Life
Canadian company Lavalin has sold its operations in France and Monaco for a nominal amount and withdrawn from the airport management and maintenance business with the sale of 19 regional airports.
The airports are in smaller French cities such as Reims, Dijon, Toulouse and Tours, along with the Caribbean island of Saint Martin and the French territory of Mayotte in the Indian Ocean. One airport is located in Castellon in Spain.
The Montreal-based engineering and construction firm said that the buyer is Ciclad and Impact Holding, adding that the price will be disclosed in March with the release of its quarterly results.
The deal includes 13 offices that also cover several markets such as industry, agribusiness, transportation and cities. About 1,100 employees are being transferred to the new owners. Lavalin has offices in Fontvieille, but the bulk of its operations have been conducted elsewhere.
Lavalin said it intends to focus on its four core business sectors: oil and gas, mining and metallurgy, infrastructure and power.
In June, SNC-Lavalin announced the sale of its real estate facilities management business in Canada, along with 1,100 employees, to Brookfield Global Integrated Solutions for $45 million.
Lavalin’s infrastructure president, Ian Edwards, said in a news release that results from its French operations have been disappointing.
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St. Paul’s Anglican Church has started making online videos of their weekly sermons in English, so parishioners don’t have to miss out during the lockdown.
The National Council says it wants to keep the Condamine and Monte-Carlo markets open, despite the closure of all food markets this week across France.
The government has added psychologists to the team at Monaco’s Covid-19 call centre as a growing number of people seek advice on how to cope with isolation and fear.
The National Council is calling on the Prince’s government to create a makeshift hospital in preparation for a surge in coronavirus cases in the Principality.