John Wood Group PLC (LSE:WG.) has agreed to sell its North American Transmission and Distribution (T&D) operations to Qualus for $110 million, the company announced on Friday.
The engineering and consulting firm stated that the funds generated from the sale will be used to lower its net debt and will also support general corporate needs.
This divestment represents another step in Wood Group’s ongoing strategy to optimize its portfolio and strengthen its financial position.
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