B&W Announces Agreement to Sell MEGTEC and Universal
Babcock & Wilcox Enterprises, Inc. (BW)
Last babcock & wilcox enterprises, inc. earnings: 3/1 04:42 pm
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Source: Business Wire
CHARLOTTE, N.C.--(BUSINESS WIRE)-- Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced that it had signed a definitive agreement to sell its MEGTEC and Universal businesses to Dürr AG (“Dürr”) for $130 million, subject to adjustment. Proceeds from the transaction will largely be used to reduce outstanding balances under the Company’s bank credit facilities, improving its balance sheet and financial flexibility. Going forward, the Company’s strategic focus will continue to be on optimizing its market-leading portfolio of equipment, technology and services for the power generation industry and driving efficiencies and cost reductions throughout the organization. As part of the Dürr organization, these businesses will be well positioned to continue to serve their customers around the world with high-quality products. The sale is expected to close in third quarter 2018 and is subject
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BW
Earnings
- 11/9/23 - Miss
BW
Sec Filings
- 4/17/24 - Form SC
- 4/10/24 - Form 8-K
- 4/10/24 - Form 424B5
- BW's page on the SEC website