Babcock & Wilcox to sell its Italian and Swedish businesses for $40M

Babcock & Wilcox has reached an agreement to sell its Italy-based SPIG S.p.A. group of companies and Sweden-based Babcock & Wilcox Volund AB formerly known as Gotaverken Miljo AB to funds managed by AUCTUS Capital Partners AG, a European private equity firm, for approximately $40M, subject to customary adjustments and expenses. The deal is expected to close at the end of October and is subject to the satisfaction of customary closing conditions.