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  2. Share Prices
  3. Wood Group (J) Share Price
  4. Wood Group (J) Share News
  5. IN BRIEF: John Wood completes Ethos Energy sale for USD138 million

Pin to quick picksWood Group (J) Share News (WG.)

Wood Group (J) Information

Share Price Information for Wood Group (J) (WG.)

London Stock Exchange
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Share Price: 20.10
Bid: 20.02
Ask: 20.32
Change: 0.00 (0.00%)
Spread: 0.30 (1.499%)
Open: 0.00
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Prev. Close: 20.10
WG. Live PriceLast checked at -

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IN BRIEF: John Wood completes Ethos Energy sale for USD138 million

Thu, 02nd Jan 2025 09:39

John Wood Group PLC - Aberdeen, Scotland-based oilfield and engineering services provider - Completes the sale of its stake in its joint venture focused on rotating equipment, Ethos Energy Group Ltd, to One Equity Partners LP for USD138 million in cash. Says the USD42 million of prior planned loan notes were replaced by an additional cash consideration at completion. Wood owned 51% of EthosEnergy with Siemens Energy AG and says it contributed USD34 million of adjusted earnings before interest, tax, depreciation and amortisation in 2023.

John Wood Group Chief Executive Ken Gilmartin says: "We are pleased to complete the sale of EthosEnergy to One Equity Partners. This strategic divestment is part of our strategy to be selective and focused on our core business. We will continue to align our portfolio as part of our commitment to simplify Wood."

Current stock price: 67.00 pence, up 2.1% on Thursday morning in London.

12-month change: down 60%

By Christopher Ward, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2025 Alliance News Ltd. All Rights Reserved.

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