Acquisitions · Nuclear power construction
Toshiba's Westinghouse buys nuclear builder CB&I Stone & Webster
- Buyer
- Toshiba (via Westinghouse Electric) (Tokyo)
- Target
- CB&I Stone & Webster, Charlotte, North Carolina
- Value
- $229M in payments to CB&I ($161M at project completion and $68M on milestones), plus assumed liabilities
- Status
- Completed on December 31, 2015.
- Date
- 2015-10-27
Westinghouse Electric, Toshiba's US nuclear unit, agreed to buy CB&I Stone & Webster, the nuclear construction business of CB&I. Westinghouse was to pay CB&I $229 million, of which $161 million was due at project completion and $68 million on milestones, and to assume liabilities. The deal was announced publicly on October 28, 2015, and completed on December 31, 2015.
Why it matters
The deal brought the construction side of Westinghouse's US reactor projects in-house, along with their cost risks.
Sources
Kakehashi M&A News home
