LONDON (Alliance News) - Oil and gas services firm John Wood Group PLC on Monday said it has made four sales as part of a non-core asset disposal programme.
John Wood has sold its 25% stake in UK roadways concession RMS A13 Holdings Ltd, 52% of Chinese factory Power Machinery Ltd, and a share in two gas power plants in Italy.
The combined proceeds of these sales are expected to be "around" USD28 million.
John Wood has also sold its 50% stake in the Voreas Srl wind farm joint venture in Italy for USD26 million.
Chief Financial Officer David Kemp said: "Together, these transactions generate cash proceeds of around USD54 million and make a good contribution to our non-core asset disposal programme which is a key element of our deleveraging plan.
"Our asset disposal programme is ongoing and remains on track to generate over USD200 million of proceeds."
Wood Group (J) (WG.)