US Shaw completes sale of chem engineering business to Technip

31 August 2012 18:34  [Source: ICIS news]

HOUSTON (ICIS)--Shaw has completed the sale of its energy and chemical engineering business to France’s Technip, the US-based engineering firm said on Friday.

Shaw’s proceeds from the deal, first announced in May, were about $290m (€232m) in cash, it said.

Completion of the divestment meets one of the conditions of a recently-agreed deal under which US engineering group CB&I will acquire Shaw.

($1 = €0.80)

By: Stefan Baumgarten
+1 713 525 2653

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