TITLE

Halliburton Plans To Sell 20% Stake in Its KBR Unit

PUB. DATE
February 2006
SOURCE
ENR: Engineering News-Record;2/6/2006, Vol. 256 Issue 5, p15
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that in keeping with a desire to separate from its Kellogg Brown & Root Inc. (KBR) unit, Halliburton Co. will hold an initial public offering for a 20% stake in the construction giant after March 31. Houston-based Halliburton first expressed interest in separating from KBR in 2004. The unit reported $10 billion in 2005 revenue, but has been under fire for its logistics and construction work in Iraq. KBR is now under probe for bribery charges related to a liquefied natural gas facility in Nigeria.The decision to move forward with the sale stems from a boost in 2005 KBR earnings over 2004 and to more positive trends for E&C firms on Wall Street, says Dave Lesar, Halliburton CEO.
ACCESSION #
20422769

 

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