British oilfield services provider Wood Plc said on Tuesday it would sell its nuclear energy business for about $305 million to Jacob Engineering, acting to reduce its debt burden as it reported a 2.6% drop in first-half revenue. Wood’s debt surged in 2017 when it paid $2.7 billion to expand into the U.S. onshore shale oil and gas sector with the purchase of Amec Foster Wheeler.

source https://finance.yahoo.com/news/1-wood-cuts-debt-305-070813795.html?.tsrc=rss