ShawCor announces strategic review

Sept 5 Wed Sep 5, 2012 5:31pm EDT

Sept 5 (Reuters) - ShawCor Ltd said its controlling shareholder and chair of its board of directors, Virginia Shaw, may sell her shares as part of a sale of the company.

The energy services company has set up a committee to conduct a strategic review of alternatives, including canvassing potentially interested third parties, the company said in a statement.

The committee has engaged Credit Suisse Canada as financial adviser.

ShawCor shares closed at C$35.08 on Wednesday on the Toronto Stock Exchange.