Aecon proposes C$320 million buyback of Oaktree's utility subsidiary stake

Aecon announced an agreement to repurchase Oaktree-managed funds' as-converted 27.5% preferred equity holding in Aecon Utilities for C$320 million. Its June 25 announcement implied approximately C$1.2 billion of subsidiary equity value. Closing was expected in the fourth quarter of 2026, and was not confirmed completed in the announcement.