09:42 AM EST - Aecon Group Inc. : announced today that it has completed the previously disclosed sale of its 25% interest in the Cross Israel Highway concessionaire, Derech Eretz Highways (1997) Ltd. (DEC). The $82.3-million sale to Shikun & Binui Holdings Ltd. (previously a 37.5% partner in the concession) and T.S.I. Roads Limited Partnership, a consortium headed by Israel Infrastructure Fund (the IIF consortium), was completed December 31, 2010. The sale will generate cash proceeds to Aecon of $65 - $70 million and an after tax gain of approximately $30 to $35 million. Aecon Group Inc.
shares T.ARE are trading even at $10.23.
