(Reuters) -British energy services provider Wood Plc said on Wednesday that it had agreed to sell its built environment consulting division to Canada’s WSP Global Inc for $1.9 billion, in an effort to raise funds and cut debt.
The sale comes about six months after London-listed Wood began a strategic review of the business, which employs 5,500 consultants serving the government, transportation, water, energy, mining and industrial sectors.
The built environment consulting business will help expand its earth and environment consulting services across markets, Toronto-listed WSP’s chief executive officer, Alexandre L’Heureux, said in a statement.
Wood had warned in February that it would book a $100 million expense related to its Aegis Ashore missile defence site in Poland.
(Reporting by Amna Karimi in Bengaluru; Editing by Sriraj Kalluvila)
