McDermott to Sell CB&I Storage Business for $475MM
McDermott International Ltd is selling its CB&I storage business to a consortium of financial investors led by Mason Capital Management. Under the terms of the agreement, McDermott said it expects to receive $475 million before taxes and transaction expenses. The transaction is expected to be completed in the fourth quarter.
McDermott to sell CB&I storage unit to Mason-led consortium for $475m
McDermott plans to use the proceeds from the sale to repay CB&I's term loan, cash collateralise certain letters of credit and reduce an existing term loan.
McDermott announces $475 million sale of storage business
McDermott International announced a $475 million deal on Monday to sell its CB&I storage business to an investor group led by Mason Capital Management. CB&I is a global designer and builder of storage facilities,
McDermott announces agreement to sell CB&I storage business
McDermott International, Ltd. (Houston) announced it has entered into an agreement to sell its CB&I storage business (CB&I) to a consortium of
McDermott Announces Agreement to Sell CB&I Storage Business Line to Consortium of Financial Investors
McDermott International, Ltd (McDermott) today announced it has entered into an agreement to sell its CB&I storage business (CB&I) to a consortium of financial investors led by Mason Capital Management.
Consortium to purchase CB&I from McDermott
A consortium led by Mason Capital Management announced that it has entered into a definitive agreement to acquire the CB&I storage solutions business from McDermott International, Ltd.
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