CHICAGO Chicago Bridge
& Iron Co. NV (CB&I) shareholders have approved the
companys proposed acquisition of Baton Rouge, La.-based
Shaw Group Inc.
The Hague, Netherlands-based
energy infrastructure company said Wednesday it expects the
transaction to close in the first quarter of 2013, assuming
remaining closing conditions are satisfied.
CB&I in July announced plans
to acquire piping and structural steel fabricator Shaw as it
looked to create one of the largest engineering and
construction firms focused on the energy industry, including
both fossil fuels and nuclear power. Among its varied services,
Shaw provides maintenance services to the nuclear industry,
When the acquisition was
announced, CB&I said that the combination of the two
companies would provide growth opportunities.
Separately, CB&I said
Thursday that it had been awarded an approximately $550-million
contract by Esso Australia Resources Pty. Ltd. to engineer,
procure materials for, fabricate and construct a gas
conditioning plant in Longford, Australia.
"We are very pleased to be
awarded this contract, which builds on our decades of
experience working with ExxonMobil (Corp.) on a wide range of
energy infrastructure projects around the world," CB&I
president and chief executive officer Philip K. Asherman said
in a statement.