Barnwell Industries Announces Entry Into Agreement For Sale Of Water Resources International For Gross Proceeds Of $2M
Portfolio Pulse from Benzinga Newsdesk
Barnwell Industries has entered into an agreement to sell its subsidiary Water Resources International for gross proceeds of $2 million. This transaction is part of Barnwell's strategic initiatives to optimize its asset portfolio.
December 14, 2023 | 11:03 am
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Barnwell Industries is selling its subsidiary for $2 million, which could impact its financial position and focus on strategic assets.
The sale of a subsidiary often leads to a positive short-term reaction in the stock market as it can improve a company's financials and allow it to concentrate on core operations. The $2 million proceeds from the sale could be seen as a positive development for Barnwell Industries.
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