Babcock & Wilcox Reaches Agreement to Sell its Italian and Swedish Businesses
Babcock & Wilcox Enterprises, Inc. (BW)
Last babcock & wilcox enterprises, inc. earnings: 3/1 04:42 pm
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Source: Business Wire
- B&W to receive approximately $40 million in cash at closing, subject to customary adjustments and expenses- Action aligns with company’s stated strategy to reduce long-term debt and optimize capital structure AKRON, Ohio--(BUSINESS WIRE)--Babcock & Wilcox Enterprises, Inc. (“B&W” or the “Company”) (NYSE: BW) announced today it has reached an agreement to sell its Italy-based SPIG S.p.A. (SPIG) group of companies and Sweden-based Babcock & Wilcox Vølund AB formerly known as Götaverken Miljö AB (GMAB) to funds managed by AUCTUS Capital Partners AG, a European private equity firm, for approximately $40 million, subject to customary adjustments and expenses. The deal is expected to close at the end of October and is subject to the satisfaction of customary closing conditions.“This sale aligns with our previously-announced strategy to divest certain non-core businesses and assets to reduce our debt, improve our balance sheet and increase liquidity,” Kenneth Young, B&W Chairman and Chi
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BW
Earnings
- 11/12/24 - Miss
BW
Sec Filings
- 12/12/24 - Form 8-K
- 12/10/24 - Form 4
- 12/2/24 - Form 8-K
- BW's page on the SEC website