Montreal hospital stake acquisition falls through

BBGI's planned acquisition of OHL's 25% share in the Center Hospitalier de l'Université de Montréal (CHUM) P3 has fallen through.

In a statement, BBGI said that “certain conditions related to the transaction have not been fulfilled” and that the process has been formally ended.

In October last year, BBGI announced the deal which would have brought the firm’s total stake in the C$1.3bn 700-bed hospital to 91.6%.

The 2050-expiring concession was originally signed by a consortium of Walsh, Bilfinger and Laing O’Rourke in 2016, but has experienced numerous troubles resulting in major losses.