Halliburton to spin off KBR

[Newsjock]

http://houston.bizjournals.com/houston/stories/2006/01/23/daily55.html

The Associated Press reported Friday that Halliburton Co. plans to spin off a portion of its KBR unit, which provides engineering and construction services and is the largest U.S. contractor in Iraq.

The plan calls for the company to spin off a minority stake in KBR with Halliburton holding onto the rest.

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[htuttle]

1. "spin off a minority stake, with Halliburton holding onto the rest"

How is that 'spinning off'? They'll still own it.

:shrug:

[unblock]

2. having controlling interest is not the same as owning outright.

nevermind the obvious financial implications; you legally have duties to the minority shareholders that limit what the majority can do.

[stillcool]

3. I wonder if this has something to do....

with the 'Asbestos lawsuit settlements'?

[TomInTib]

6. Probably not the only suit they're worried about.

Abestos was WR Grace which was folded into Dresser and then basically absolved.

I am sure KBR is worried about liability over construction fraud in the Middle East.

By the way, my evil stepfather retired as President of Brown and Root, International (now KBR) just before the name change.

I know way more about this crap than I want to.

Tom

[tridim]

4. Let me guess..

The home office address will be 1600 Pennsylvania Ave : Basement bunker? Maybe offices in the Pentagon too?

[fooj]

5. KBR was just awarded 384 million dollars to build detention camps

I hope all of the rat bastards rot in hell.

Peace.