Highway 407 in Ontario is high on the list of nice deal badboys: "SNC-Lavalin Group Inc. will sell 10.01 per cent of its stake in 407 International Inc., the p

Highway 407 in Ontario is high on the list of nice deal badboys: "SNC-Lavalin Group Inc. will sell 10.01 per cent of its stake in 407 International Inc., the private consortium that controls the profitable tolled highway in north Toronto, for an expected $3.25 billion, the company announced Friday. That’s more than a billion than what the government earned 20 years ago – for selling the leasing rights to the entire highway. In 1999, the Ontario government leased Highway 407 for the next 99-years for $3.1 billion, or $4.4 billion in today’s dollars. At the time, it was the largest privatization of a public asset in Canadian history. But in hindsight, it may be considered one of Ontario’s biggest financial missteps, considering the SNC-Lavalin sale pegs the value of the highway at at least $30 billion. The company running the 407 reported revenues of $1.4 billion in 2018" ...they sold the 10% to... Ontario's pension fund... https://www.yahoo.com/now/worst-deal-ever-the-407-is-worth-30-b-today-ontario-sold-it-for-31-b-in-1998-181642680.html https://www.yahoo.com/now/worst-deal-ever-the-407-is-worth-3...