Wood Group to sell industrial services unit to pare debt
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(Reuters) - Oilfield services provider John Wood Group Plc said on Wednesday it had agreed to sell its industrial services business to technical services provider Kaefer for an initial cash consideration of about $104 million (79.70 million pounds). Aberdeen-headquartered Wood said the deal includes a further potential payment of up to $14 million when agreed upon financial goals are met. Sale proceeds will be used to cut debt, the company added."As our focus has moved towards building a..