Shaw Group Closes Divestiture Of Its Energy & Chemicals Business To Technip

8/31/2012 1:30 PM ET

The Shaw Group Inc. (SHAW: Quote) said Friday that it has completed the divestiture of its Energy & Chemicals business to Technip (TNHPF.PK), effective August 31.

Proceeds from the transaction were about $290 million in cash.

The company noted that the completion of this transaction also satisfies one of the conditions of the agreement for CB&I to acquire Shaw.

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