Willbros to Sell Oman to Interserve for Proceeds of $36M+
Willbros Group, Inc. (NYSE: WG) announced today that its subsidiary, Willbros International Finance & Equipment Limited, has signed a definitive Share Purchase Agreement and has completed the sale of all of the Company's interests in Oman to Interserve Holdings Limited, a subsidiary of Interserve Plc, a U.K. company traded on the London Stock Exchange, (the "Buyer"). The Buyer purchased Willbros Middle East Limited, a subsidiary of Willbros that owns its interest in The Oman Construction Company. The all-cash transaction generated net proceeds to Willbros of over $36.0 million after transaction-related costs. The transaction was approved by the Boards of both Willbros Group and Interserve.
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