Summary
WOOD Group, the Scottish oil and gas services heavyweight, yesterday confirmed it has put its well-support division on the block amid speculation that the proceeds will be used to pay off the debt incurred after buying rival PSN last year - eliminating the potential need for a rights issue.
The Aberdeen-based company is understood to have hired Credit Suisse to advise on the division's sale, which is expected to fetch more than $1 billion (pound(s)618,000).See the full content of this document
Extract
Wood Group Well Services Division Could Fetch $1bn
Meanwhile, Wood Group agreed in December to buy oil services group PSN in a deal worth around pound(s)600,000.
Wood yesterday said it...See the full content of this document
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