Toronto, Ontario – December 19, 2017: Aecon Group Inc. (TSX: ARE) is pleased to announce that its shareholders voted today to approve the previously announced Plan of Arrangement pursuant to which CCCC International Holding Limited (CCCI) will acquire all of the issued and outstanding common shares of Aecon (the "Arrangement").
Approximately 99.40 per cent of the votes cast by Aecon shareholders were in favour of the Arrangement, including approximately 99.39 per cent of the votes cast by Aecon shareholders other than shareholders whose votes were required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Approval was required from at least two-thirds of the votes cast by shareholders plus a simple majority of disinterested shareholders, voting either in person or by proxy.
It is expected that Aecon will apply for a final order of the Ontario Superior Court of Justice (Commercial List) for approval of the Arrangement on December 22, 2017. Completion of the arrangement remains subject to other customary closing conditions for a transaction of this nature, including the aforementioned court order and approval under the Investment Canada Act. Assuming the satisfaction or waiver of these closing conditions, the Arrangement is expected to close by the end of the first quarter of 2018.
Aecon Group Inc. (TSX: ARE) is a Canadian leader and partner-of-choice in construction and infrastructure development. Aecon provides integrated turnkey services to private and public sector clients in the Infrastructure, Energy and Mining sectors and provides project management, financing and development services through its Concessions segment. For more information, please visit www.aecon.com and follow us on Twitter at @AeconGroup.