FTC terminated the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
Shaw Group can now conclude the deal with Technip for a remuneration of about $300m which is subject to working capital adjustments.
Shaw is expecting the company’s adjusted cash balance on 31 August 2012 to be approximately $1.3bn following the reception of the sales proceeds.
Technip and Shaw are expecting to close the sales transaction by the end of August 2012.
US based Shaw Group provides engineering, construction, technology, fabrication, remediation and support services to energy, chemicals, environmental, infrastructure and emergency response industries.
