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KBR Finalizes Sale of its Building Group Subsidiary to Pernix

Source: www.gulfoilandgas.com 7/7/2015, Location: North America

KBR finalized the sale of its Building Group subsidiary to Pernix Building Group, LLC, a subsidiary of Pernix Group, Inc. The sale of the Building Group completes a major aspect of the business transformation strategy KBR announced at its Investor Day last December.

"This represents a major step forward in our commitment to make KBR a more streamlined and focused organization," said Stuart Bradie, KBR President and CEO. "We are pleased to continue to deliver on the promises we made to our customers and shareholders when we announced our business transformation strategy in December."

The transaction's price is $22 million, and KBR expects to record a pre-tax gain of approximately $28 million in its second quarter 2015 financial results.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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