The Aberdeen-based company is understood to have hired Credit Suisse to advise on the division’s sale, which is expected to fetch more than $1 billion (£618,000).
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Wood Group well services division could fetch $1bn
WOOD Group, the Scottish oil and gas services heavyweight, yesterday confirmed it has put its well-support division on the block amid speculation that the proceeds will be used to pay off the debt incurred after buying rival PSN last year – eliminating the potential need for a rights issue.
