In October, 2015, Westinghouse entered into a Purchase Agreement with
Chicago Bridge & Iron Company N.V. (CB&I) for the acquisition of CB&I
Stone & Webster Inc., CB&I’s nuclear construction and integrated
services businesses by Westinghouse. On July 21, 2016, CB&I initiated a
legal proceeding against Westinghouse in Delaware Chancery Court with
respect to the post-closing reconciliation process.
Today Westinghouse Senior Vice President and General Counsel Michael
Sweeney issued the following statement in response to the legal
proceeding brought by CB&I.
"Over the course of the past several months the two parties have been
faithfully following the process explicitly set out in the Purchase
Agreement between them. It is therefore troubling that CB&I, after
agreeing to and actively participating in that process, is seeking to
disrupt it. Nevertheless, we are confident that the transaction will be
fully concluded in accordance with the Parties Purchase Agreement.”
To learn more about Westinghouse Electric Company and our vision to be
the first to innovate the next technology, practice or solution that
helps our customers generate safer, cleaner, more reliable energy visit www.westinghousenuclear.com.
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