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UK's Wood Group to sell North American T&D business for $110 million

Published by Global Banking and Finance Review

Posted on August 29, 2025

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(Reuters) -Wood Group 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.

(Reporting by Yamini Kalia in Bengaluru; Editing by Sumana Nandy and Janane Venkatraman)

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