The Woodlands Company Selling Nuclear BusinessCB&I, based in The Woodlands, turned to Wachtell, Lipton, Rosen & Katz for the pending sale of CB&I Stone & Webster Inc., its nuclear construction business and integrated services business, to Westinghouse Electric Co. for $229 million. Westinghouse, of Cranberry Township, Pennsylvania, is using a team from Weil, Gotshal & Manges.
On Oct. 27, CB&I announced a definitive agreement for Westinghouse to buy the outstanding equity interests in CB&I’s nuclear construction business, including a V.C. Summer project in South Carolina, the Vogtle project in Georgia and nuclear projects in China. Westinghouse will also acquire CB&I’s nuclear integrated services business, which includes small capital projects for existing nuclear plants in the United States.
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