Engineering services company KBR has acquired the 44.94% share interest in MW Kellogg (MWKL) previously held by JGC Corporation.
MWKL, which was previously an affiliate of both companies since 1992, is again a wholly-owned KBR subsidiary, following the completion of the transaction.
The purchase price was £106.6m (approximately $165m), subject to certain post-closing adjustments.
MWKL will continue its operations in Greenford, UK.
KBR said that the organization will complement KBR’s existing Leatherhead operations, which jointly will serve as the company’s London Center of Operations, creating one of the largest engineering and construction organizations in the UK.
KBR chairman, president and CEO William Utt said that the opportunity to consolidate its ownership of MWKL fits KBR’s long-term strategy to enhance the range, flexibility and efficiency of KBR’s LNG and hydrocarbons offerings to its customers.
MWKL is a UK based full service contractor primarily serving the hydrocarbon market.