McDermott and CB&I make progress in their combination
Published by Anna Nicklin,
Assistant Editor
Hydrocarbon Engineering,
McDermott International Inc. and CB&I have received antitrust clearance in Russia for their proposed combination. With this clearance, the companies have received all the required competition authority approvals for the transaction.
As announced on 18 December 2017, McDermott and CB&I agreed to combine in an all-stock transaction to create a premier vertically integrated onshore-offshore company with an enterprise value of approximately US$6 billion. Under the terms of the proposed combination, upon completion, it is estimated that McDermott stockholders will own approximately 53% of the combined company on a fully diluted basis and CB&I shareholders will own approximately 47%.
The combination is expected to be completed in 2Q18. It remains subject to approval by McDermott’s and CB&I’s shareholders, completion of financing and other closing conditions.
Read the article online at: https://www.hydrocarbonengineering.com/special-reports/16032018/mcdermott-and-cbi-make-progress-in-their-combination/
You might also like
The Hydrocarbon Engineering Podcast - Overcoming downstream challenges with new technology
In this episode of the Hydrocarbon Engineering Podcast, Omar Sayeed, Centre of Excellence Leader for Reliability, and Rahul Negi, Director of AI and Industrial Autonomous, Honeywell Process Solutions, consider how new, innovative technology can help to overcome some of the challenges facing the downstream oil and gas sector.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.
