Feb 5 (Reuters) - Oilfield services provider John Wood Group said on Wednesday it had agreed to sell its industrial services business to technical services provider Kaefer for an initial cash consideration of about $104 million.
Aberdeen-headquartered Wood said the deal includes a further potential payment of up to $14 million when agreed upon financial goals are met. Sale proceeds will be used to cut debt, the company added.
Reporting by Noor Zainab Hussain in Bengaluru; Editing by Vinay Dwivedi
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