- Babcock & Wilcox Enterprises Inc BW has agreed to acquire VODA A/S for undisclosed financial terms.
- Vejen, Denmark-based VODA is a multi-brand aftermarket part and service provider for the waste-to-energy and biomass-to-energy markets.
- B&W will form B&W Renewable Service to integrate the VODA A/S and B&W Vølund aftermarket services businesses.
- B&W Renewable Service will be led by VODA's CEO Christopher Nysted Sørensen.
- The company targets to close the transaction at the end of October 2021.
- Babcock & Wilcox held cash and equivalents of $143.6 million as of June 30, 2021.
- Price Action: BW shares traded lower by 2.39% at $6.32 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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