Panama-based Willbros Group buys Midwest Pipelines as Amec continues to sell non-core businesses
Amec has sold its Canadian Midwest Pipelines business to Willbros Group. The oil, gas and electricity contractor will pay Amec about 拢9bn cash and 拢2m working capital for the business
Midwest Pipelines, based in Edmonton, Alberta, had a turnover of 拢55 million (Cdn$115 million) for the year ended 31 December 2006.
The move follows the sale of Amec's construction and regeneration businesses to Morgan Sindall for 拢26m earlier this week.
The disposals continue Amec's strategy of focusing on its energy and process sectors.
The transaction is conditional on the approval under the Canadian Competition Act.
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