KBR Has Sold its Shareholding in Brown & Root Condor to Sonatrach

摘要

At the beginning of August KBRL,a subsidiary of KBR,Inc.,sold Sonatrach its shareholding in Brown & Root Condor Spa(BRC)for the equivalent of 24 million in Algerian dinars.KBR announced this sale through the filing of an 8-K form with the United States Securities and Exchange Commission(SEC)in Washington.Questioned by AOGM about the reasons for this decision,KBR's Communications Manager in Houston,Ms.Heather L.Browne,replied that she could not make any comments beyond what had been said in the document submitted to the SEC.Under the heading Other Events,KBR explained in a few lines that it was awaiting the authorization of the Banque dAlgerie to convert the sum it had received from Sonatrach into U.S.dollars and that the sale should generate a net gain of 0.06 per share for KBR.No details were given about the reasons for the decision.For its part,Sonatrach has not released any statement about the transaction.The fact is that BRC had become very embarrassing.