February 5, 2020 / 5:22 PM / 23 days ago

Wood Group to sell industrial services unit for $104 mln

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below