Newsletter 
  INSCRIPTION Inscription | ESPACE ANNONCEURS Publicité | CONTACT Contact |PLAN DU SITE Plan


Europétrole, le portail de l'industrie du pétrole
 
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • McDermott International, Inc. Announces Confirmation of Plan of Reorganization
    édité le 13/03/2020 - Plus de news de "McDermott" - Voir la fiche entreprise de "McDermott"


McDermott International, Inc. Announces Confirmation of Plan of Reorganization
McDermott International, Inc. announced that the U.S. Bankruptcy Court for the Southern District of Texas (the "Court") has confirmed the Company's Plan of Reorganization (the "Plan") and approved the sale of Lummus Technology to a joint partnership between The Chatterjee Group and Rhône Capital (the "Joint Partnership").

"With the support of our creditors, employees, customers and suppliers, we have been able to confirm our Plan of Reorganization less than two months after we initially filed for Chapter 11," said David Dickson, President and Chief Executive Officer of McDermott. "This is a significant achievement and allows us to emerge in the near-term as a stronger, more competitive player, with a sustainable capital structure that matches the strength of our operating business. I would like to thank our customers, employees, suppliers, partners, lenders and advisors for their support during the process and continued confidence in our business."

Under the terms of the Plan, McDermott will complete a comprehensive restructuring transaction (the "Transaction") to de-lever its balance sheet and immediately position the Company for long-term growth. The Transaction will allow the Company to emerge with more cash on hand than debt, eliminating over $4.6 billion of debt.

The Company expects to emerge in the second quarter following the receipt of regulatory approval for the sale of Lummus Technology to the Joint Partnership. As announced on January 21, 2020, subsidiaries of McDermott entered into a share and asset purchase agreement (the "Agreement") to sell Lummus Technology to the Joint Partnership, as the "stalking horse bidder," for a base purchase price of $2.725 billion, subject to higher or otherwise better bids received through a court-supervised auction process.

Proceeds from the sale of Lummus Technology are expected to repay McDermott's DIP financing in full, as well as fund emergence costs and provide cash to the balance sheet for long-term liquidity.

About McDermott

McDermott is a premier, fully integrated provider of technology, engineering and construction solutions to the energy industry. For more than a century, customers have trusted McDermott to design and build end-to-end infrastructure and technology solutions to transport and transform oil and gas into the products the world needs today. Our proprietary technologies, integrated expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. Customers rely on McDermott to deliver certainty to the most complex projects, from concept to commissioning. It is called the "One McDermott Way." Operating in over 54 countries, McDermott's locally focused and globally integrated resources include more than 42,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.


Origine : Communiqué McDermott

Voir la fiche entreprise de "McDermott"



Les dernières news de "McDermott"



Toutes les news de "McDermott"
 
 
Emploi-Pétrole
 
Rechercher une news



française internationale








 
Les dernières news internationales


>> Toute l'actualité internationale     >> RSS
 
Recherche de news par tags

abu-dhabi adnoc aker-solutions algeria algerie algerie alstom amec anadarko angola apache australia axens azerbaijan baker-hughes barents-sea bechtel bg-group bp brazil canada carburant cbi cgg chevron china chiyoda cnooc cnpc co2 commission-europeenne compressor conocophillips consommation cpdp deepwater discovery drilling e-on edf egypt emerson engie engineering eni equinor exxonmobil feed flng flowline fluor fluxys fmc foster-wheeler fpso fsru fugro gabon gas gaz gazprom gazprom-neft gdf-suez ge ghana gnl gtt gulf-of-mexico hess india indonesia inpex iraq jacobs jgc kbr keppel licence lng lukoil lundin maersk-drilling malaysia mcdermott methanier mozambique natural-gas nigeria nigeria nord-stream north-sea norway novatek offshore oman omv opec pdvsa pemex petoro petrobras petrofac petronas pgnig pipeline platform qatar qatar-petroleum qatargas raffinerie refinery repsol rig riser rosneft russia rwe saipem santos saudi-aramco schlumberger seadrill senegal shah-deniz shale-gas shell sinopec socar sonatrach south-stream statoil subsea subsea-7 tap technip technipfmc texas total transocean tullow turbine ufip uk vallourec vessel vopak well wintershall wood-group woodside



Europétrole © 2003 - 2020