The latest announcement is out from Babcock & Wilcox Company ( (BW) ).

Babcock & Wilcox Enterprises has announced the sale of its Italian and Swedish subsidiaries, SPIG S.p.A. and Babcock & Wilcox V?lund AB, to Auctus Neptune Holding S.p.A. for approximately €36.7 million. This strategic move aims to reduce long-term debt and optimize the company’s capital structure, in line with its strategy to divest non-core assets. The transaction, expected to close by the end of October, includes customary representations, warranties, indemnity obligations, and closing conditions, and underscores the company’s focus on its core Thermal, Renewable, and Environmental technologies.

Find detailed analytics on BW stock on TipRanks’ Stock Analysis page.