(Bloomberg) -- SNC-Lavalin Group Inc., a Canadian company that has engulfed Justin Trudeau’s government in political controversy, agreed to sell 10 percent of the shares of Toronto-area electronic toll highway 407 International Inc. for as much as C$3.25 billion (US $2.43 billion).

The sale to OMERS Infrastructure will reduce SNC’s stake from 16.8 percent, the Montreal-based company said in a statement Friday. The Cintra Global unit of Ferrovial SA holds 43.2 percent and indirectly owned subsidiaries of Canada Pension Plan Investment Board own 40 percent. OMERS is the investment arm of the defined benefit pension plan for municipal employees in the province Ontario.

Under the deal, C$3 billion is payable at closing and C$250 million is payable over 10 years, subject to meeting certain financial thresholds related to Highway 407 ETR’s performance. The deal is expected to be completed within two months.

SNC has been at the center of a conflict that has pummeled Prime Minister Trudeau’s government for the past two months.

The country’s former attorney general, Jody Wilson-Raybould, alleged she was pressured by Trudeau, some of his aides and others within government, to help the construction firm avoid a trial over charges of fraud and bribery in Libya. Wilson-Rabould says she was urged to direct prosecutors to issue a deferred prosecution agreement for SNC instead and negotiate a fine. That would allow the company to avoid a ban on receiving federal contracts.

Party Ejection

Trudeau ejected Wilson-Raybould and her ally Jane Philpott, another former minister, from the Liberal Party caucus this week in a bid to bring an end to the drama. Liberal lawmakers have increasingly viewed her statements as political friendly fire.

SNC stock has lost 29 percent of its value since late January after the company posted two profit warnings on troubles in Chile and Saudi Arabia and becoming the center of the Trudeau scandal.

--With assistance from Josh Wingrove.

To contact the reporters on this story: Tony Robinson in New York at trobinson72@bloomberg.net;Jacqueline Thorpe in Toronto at jthorpe23@bloomberg.net

To contact the editors responsible for this story: Brendan Case at bcase4@bloomberg.net, Tony Robinson, Cecile Daurat

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