04:35 PM EDT, 10/07/2024 (MT Newswires) -- Mason Capital Management-led group, which includes IES Holdings ( IESC ) and other investors, agreed to purchase CB&I storage business from McDermott International, Mason said Monday.

McDermott said separately it expects to receive gross proceeds of $475 million from the transaction.

The deal is expected to close in Q4, the companies said.

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