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 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.
Consortium Led by Mason Capital Management to Acquire CB&I From McDermott
CB&I is the world's most technically advanced builder of storage facilities serving customers across the water and wastewater, upstream, downstream, petrochemical and industrial sectors. The Company delivers products and solutions for critical energy infrastructure projects,
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.
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