UK's Wood Group to sell North American T&D business for $110 million
ReutersAug 29, 2025 6:35 AM
Aug 29 (Reuters) - Wood Group WG.L has agreed to sell its North American transmission and distribution engineering business to U.S.-based Qualus for $110 million, the British firm said on Friday.
The oilfield services provider, a takeover target of Dubai-based Sidara, has been actively disposing of its non-core businesses to cut debt.
Earlier this week, Sidara lowered its bid for the company and said it will table a firm offer once the preconditions linked to Wood Group's debt are met.
The UK takeover panel extended the bid deadline to August 29 late on Thursday.
Florida-based Qualus is a pure-play power solutions firm focused on modernising and securing the electric grid.
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