McDermott International, Inc. (MDR) said it intends to separate its operating subsidiaries, The Babcock & Wilcox Co. and J. Ray McDermott, S.A., into two independent, publicly traded companies. The separation is anticipated to be effected through a spin-off of Babcock & Wilcox Co., a transaction that is intended to be tax-free to McDermott shareholders.
McDermott believes that following the separation, each resulting company will have substantial liquidity, ample access to capital and a strong balance sheet.
Following completion of the separation, McDermott intends to be renamed J. Ray McDermott, S.A., and shareholders will own 100% of two separate companies: Babcock & Wilcox Co. and J. Ray McDermott. The transaction is expected to be completed in nine to twelve months.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.