Wood signs agreement to sell 50% of Italian wind farm JV

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Wood has reached an agreement to dispose of its 50% interest in the Voreas S.r.l wind farm joint venture in Italy for a cash consideration of around $27m.  Wood’s share in the joint venture generated EBITA of around $3m in the year to 31 December 2017.

The disposal is subject to a number of conditions precedent and is expected to complete in the fourth quarter of 2018.

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