Technip Finalizes Stone & Webster Acquisition, Creates New Unit

Technip (Paris) has completed the previously reported acquisition of Stone & Webster’s process technologies business and associated oil and gas engineering capabilities from the Shaw Group. Technip paid approximately $290 million in cash, which will be subject to customary price adjustments. There will be no material impact on full-year 2012 revenues or operating income with unchanged estimates, despite transaction and integration costs, Technip says. The acquired business should generate margins above those of Technip’s onshore/offshore segment...

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