Babcock & Wilcox To Sell Its Denmark-Based Renewable Parts And Services Subsidiary For $87M Cash, Reiterated FY24 Adj EBITDA Of $105M-$115M
Portfolio Pulse from Benzinga Newsdesk
Babcock & Wilcox Enterprises, Inc. (NYSE: BW) has sold its Denmark-based subsidiary, Babcock & Wilcox Renewable Service A/S, to Hitachi Zosen Inova AG for $87 million. The proceeds will be used to reduce debt and increase liquidity. The company reiterated its FY24 Adjusted EBITDA target range of $105-$115 million.
July 01, 2024 | 10:32 am
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Babcock & Wilcox Enterprises, Inc. (NYSE: BW) has sold its Denmark-based subsidiary for $87 million to reduce debt and increase liquidity. The company reiterated its FY24 Adjusted EBITDA target range of $105-$115 million.
The sale of the subsidiary will provide immediate cash inflow, which will be used to reduce debt and increase liquidity. This aligns with the company's strategic goals and supports its financial outlook, positively impacting investor sentiment.
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