has completed its acquisition of US-based engineering
company The Shaw Group, the companies said on Wednesday.
The deal was first announced in July 2012, and CB&I and Shaw
shareholders overwhelmingly approved the transaction in
We are extremely pleased that the transaction to
acquire Shaw is officially complete and we thank the
shareholders for their support, said Philip K. Asherman,
CEO of CB&I.
With the close of the transaction, CB&I is the most
complete energy infrastructure focused company in the world.
Through our now 50,000 talented employees, we have the
capabilities and the expertise to provide our clients with a
world of solutions, and a tremendous strategic advantage in
responding to the growing demand for energy infrastructure
around the globe.
Reports have valued the overall deal at approximately $3
CB&I had said that combining the two companies would
create one of the most complete engineering, procurement,
fabrication, construction, maintenance, and associated services
companies in the world.
CB&I plans to operate Shaw as a business sector under the
brand name CB&I Shaw, the company said, enabling the new
company to retain Shaws brand equity, particularly in the
Headquarters functions at The Shaw Group's former
offices in Baton Rouge, Louisiana, have shifted to The
Woodlands, Texas, where CB&I is based.