Halliburton Plans to Sell 20% Stake in Its KBR Unit
In keeping with a desire to separate from its Kellogg, Brown, and Root unit, Halliburton Co. will hold an initial public offering for a 20% stake in the construction giant after March 31.
Houston-based Halliburton first expressed interest in separating from KBR in 2004. The unit reported $10 billion in 2005 revenue, but has been under fire for its logistics and construction work in Iraq. KBR is now under probe for bribery charges related to a liquefied natural gas facility in Nigeria.