KBR stake

US: Halliburton has announced plans to sell a minority stake in Kellogg, Brown & Root (KBR), its US$ 10.9 billion per year construction and engineering subsidiary, through an initial public offering (IPO) of shares. Halliburton has indicated it plans to sell 20% of KBR through the IPO, but has also said it may sell-off individual parts of the business in separate transactions. The company was previously thought to be considering divesting all of KBR, but recent rises in construction companies' share prices have made the IPO option more attractive.