Wood signs $1.9 billion sale of Built Environment business to WSP

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.

Read more here

Phot credit: Energy Voice