Fluor - divests equity stake in ICA-Fluor Daniel to ICA for $175 mln

Fluor Corporation has completed the divestiture of its equity stake in ICA-Fluor Daniel to Empresas ICA Sociedad Controladora for $175 million. The transaction marks a strategic move by Fluor to streamline its portfolio and focus on core business areas. ICA-Fluor Daniel, a joint venture formed in 1947, has historically delivered engineering, procurement, and construction services for a range of industrial projects across 21 countries.

The partnership previously executed high-profile projects, including a $136.6 million contract in 2002 to build two modular cryogenic plants for Pemex Gas y Petroquimica Basica in Mexico. The divestiture aligns with Fluor’s broader strategy to optimize capital allocation and enhance shareholder value. Fluor has also recently engaged in significant financial transactions, such as receiving $1.35 billion for 71 million NuScale shares. The company continues to prioritize operational efficiency and financial flexibility as it navigates evolving market conditions.