Aberdeen-headquartered energy services giant Wood has signed a deal to sell its 7,000-employee built environment business to WSP Global.

The deal, with gross proceeds of $1.9 billion,  is expected to complete in the second half of this year to WSP, a Canadian engineering services firm.

Wood said the proceeds from the sale would be used to reduce the group’s net debt, which stood at $1.4bn at the end of December 2021.

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Phot credit: Energy Voice