Shaw Group, the company at the forefront in developing America’s next generation of nuclear power plants, has been bought out by Texas engineering group CB&I in a deal worth $3bn.
Shaw is building two nuclear plants – the first to be licensed in the US since 1978 – in South Carolina in co-operation with Westinghouse. It is also developing a nuclear plant in Georgia and building four nuclear units in China with Westinghouse, reports FT.
Philip Asherman, chief executive of CB&I, said the acquisition would make his company “fully diversified across the entire energy sector, from power generation to [liquefied natural gas], from refining to gas processing, from offshore to oil sands, and beyond”.
For more power mergers and acquisitions news