Babcock & Wilcox To Sell Its Italy-based SPIG S.p.A. Group Of Companies And Sweden-Based Babcock & Wilcox Vølund AB To Funds Managed By AUCTUS For $40M
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Babcock & Wilcox is selling its Italy-based SPIG S.p.A. and Sweden-based Babcock & Wilcox Vølund AB to AUCTUS for $40 million. The transaction is expected to close by the end of October, pending customary closing conditions.
October 10, 2024 | 10:31 am
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Babcock & Wilcox is divesting its SPIG S.p.A. and Vølund AB units for $40 million to AUCTUS. This move could streamline operations and improve financials.
The sale of non-core assets like SPIG S.p.A. and Vølund AB for $40 million could positively impact Babcock & Wilcox by streamlining operations and potentially improving financial stability. The transaction is expected to close by the end of October, which could lead to a short-term positive impact on BW's stock price.
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