Wood Group agreed to sell Amec Foster Wheeler's North American nuclear operations to Kinectrics for around C$10m in cash. The total payment includes adjustments for defined benefit pension related debt. The business being sold consists of nuclear operations in Canada and the US, together with a small operation in Romania. The transaction in respect of Canadian and US operations is expected to close in the fourth quarter of 2017 subject to competition clearance in Canada. The Romanian disposal is expected to close early in 2018, subject to regulatory approval in Romania.
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