$6 Billion McDermott-CB&I Deal Closes

May 11, 2018

 

A $6 billion deal has closed, merging offshore engineering company McDermott International Inc. with Chicago Bridge and Iron Co. NV.

The resulting midstream entity will merge McDermott’s offshore construction and engineering expertise with CB&I’s power plant and LNG skills, with a plan to expand into the Middle East.

That includes McDermott’s current contracts with Saudi Aramco.

CB&I is part of the development of the Freeport LNG project underway in Texas and Louisiana’s Cameron LNG export plant.