StockMarketWire.com - Engineering company Wood Group said it had closed a £250m sale of its nuclear business to Jacobs.

The deal represented a multiple of about 12.4 times, based on 2018 earnings before interest, tax, depreciation and amortisation of £20.2m.

Proceeds from the deal, and recent sale of Wood's industrial services business, generated a total of $429m.

'These moves form part of Wood's ongoing portfolio optimisation focus and will also enable the company to reduce debt and accelerate progress towards its target leverage policy,' Wood said.


At 8:43am: [LON:WG.] Wood Group John PLC share price was -73.45p at 248.15p



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