Babcock & Wilcox falls on deal to sell Italian, Swedish businesses

Babcock & Wilcox Enterprises

10/10/2024 12:37

** Shares of Babcock & Wilcox Enterprises  BW.N  down 3.70%
to $2.34 during premarket trading 
    ** Energy tech firm reaches agreement to sell its Italian
and Swedish units for about $40 mln
    ** Deal aligns with co's strategy to divest non-core
businesses to cut debt and increase liquidity
    ** "We remain intently focused on our balance sheet and
expect additional sales of non-strategic businesses to drive
further improvements in our cash, liquidity and leverage ratio
positions," says CEO Kenneth Young
    ** As of Wednesday's close, stock up 66.4% YTD

 (Reporting by Bageshri Banerjee)