AmericasContracts and Tenders

McDermott to sell CB&I to Mason Capital-led consortium

By LNG Prime Staff
McDermott to sell CB&I to Mason Capital-led consortium
Roof raising of Venture Global LNG's tanks in Louisiana in 2020 (Image: CB&I)

Under the terms of the deal, McDermott expects to receive $475 million of proceeds before taxes and transaction expenses. McDermott expects to complete the transaction in the fourth quarter of this year. The transaction is the culmination of a “comprehensive” marketing process during which McDermott received multiple bids from prospective buyers, it said. Pursuant to…

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