Halliburton to fully divest KBR

Halliburton has announced plans to divest its majority stake in contracting and engineering subsidiary KBR by means of a share swap. Th e company will o. er the 135.67 million shares it holds in KBR – representing about 83% of the company's equity – for shares in Halliburton. It will o. er 1.5905 shares in KBR in exchange for each Halliburton share tendered.

Last November saw Halliburton sell an initial 17% stake in KBR by means of an initial public o. ering (IPO) of shares. This netted it US$ 441 million in cash.