Deals
Toshiba Takes on Long-Delayed Nuclear Projects in CB&I Deal
This article is for subscribers only.
Toshiba Corp.’s Westinghouse Electric Company LLC agreed to buy CB&I Inc.’s nuclear business in a deal that would settle disputes between the two contractors and the owners of two long-delayed U.S. power projects.
Westinghouse Electric agreed to pay $229 million for the CB&I Stone & Webster Inc. unit upon the delivery of some equipment and the completion of the two U.S. projects, Southern Co.’s Vogtle nuclear power plant in Georgia and Scana Corp.’s V.C. Summer complex in South Carolina, terms posted on CB&I’s website Tuesday show.