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Willbros Group, Inc.
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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Posted In: NewsAsset Sales
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