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CommoditiesMedium•13 April 2026•

1 min read

Petrofac Finalizes Asset Solutions Sale to CB&I, Securing 3,000 Jobs

Key Facts

1CB&I has finalized the acquisition of Petrofac's Asset Solutions business.

2The transaction secures the employment of approximately 3,000 workers.

Petrofac has successfully finalized the divestment of its Asset Solutions business unit to CB&I. This strategic move is designed to streamline the company's core operations and strengthen its overall financial position. A significant outcome of the transaction is the preservation of employment for approximately 3,000 workers, ensuring operational continuity. The completion of this sale allows Petrofac to de-risk its balance sheet by removing specific liabilities associated with the unit. Industry analysts view the deal as a positive step toward corporate restructuring and long-term stability. Market attention remains focused on Petrofac's (PFC.L) performance on the London Stock Exchange following the news.