UK Energy Services Firm Wood Sells Consulting Unit for $1.9BN

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British energy services company Wood has announced it has agreed to sell its built environment consulting business unit for $1.9 billion (£1.5bn).

Canadian management and consultancy services firm WSP Global will be the new owner of Wood’s division.

Wood said the completion of the deal is expected in the second half of the year.

Robin Watson, the company’s Chief Executive, said: “This transaction enables us to move onto our next strategic phase with the financial flexibility to accelerate our strategy to capture the growth opportunities ahead across both energy security and sustainability.”