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Babcock & Wilcox Company ( (BW) ) has issued an announcement.
Babcock & Wilcox Enterprises, Inc. has successfully completed the sale of its Italian and Swedish subsidiaries to Auctus Neptune Holding S.p.A. for approximately €36.7 million, subject to adjustments. This strategic move includes a three-year non-competition and non-solicitation covenant, allowing Babcock & Wilcox to focus on its core Wet and Dry Cooling Business. This transaction showcases the company’s strategic shift and adaptation in the evolving market landscape.
For an in-depth examination of BW stock, go to TipRanks’ Stock Analysis page.