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OFS - McDermott sells Lummus for $2.7B after court OKs reorg - March 2020

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McDermott International will sell its Lummus Technology business to a JV between private equity firms The Chatterjee Group and Rhône Capital for $2.725 billion. The Houston-based engineering firm received permission for the sale and the rest of its bankruptcy reorganization plan from the US Bankruptcy Court for the Southern District of Texas on March 12, less than two months after it filed for Chapter 11. The Chatterjee-Rhone offer was a stalking-horse bid, hoping to......
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