US engineering giant Fluor buys Dutch Stork in 700mn euro deal
THE HAGUE: Stork, an 188-year-old Dutch energy sector services provider, announced Monday it has been bought by Fluor in a multi-million-euro deal, set to strengthen the US-based engineering and construction giant’s global reach.
“Fluor and Stork announced today that Fluor has signed an agreement with UK-based private equity firm Arle Capital Partners to acquire 100 percent of Stork… for an investment of 695 million euros ($755 million),” the Utrecht-based Stork said in a joint
statement with Fluor.
Stork provides safety and environmental services for the energy industry. It has been hit hard in recent times by falling oil prices and cutbacks in Dutch gas production, local media and analysts said.