Fluor to buy Stork of the Netherlands for $755 million
The deal offers around seven times Storks' annual earnings before interest, taxes, depreciation and amortization (EBITDA) of 100 million euros ($109 million), the companies said.
Stork's main business is in modifying and maintaining large gas, oil and power plants.
Fluor said the acquisition would combine well with its own operations in the same industry and give it access to Stork's customer base, which spans the globe but is most focused in Europe. ■