Halliburton to press ahead with KBR spinoff

Oil-field services conglomerate Halliburton Co. told analysts that it planned to complete a spinoff of engineering and construction unit KBR by April.

Houston-based Halliburton said in July that it would pursue a spinoff rather than a previously announced initial public offering, but Chief Executive Dave Lesar said Monday that the company believed an IPO could still be in the works because the market had improved.

If the company can’t proceed with the IPO by the end of the year, it expects to spin off 100% of KBR to Halliburton shareholders by April at the latest, Lesar told analysts.