B&W Enterprises Sells Renewable Segment Stake for $100M
Ticker: BW-PA · Form: 8-K · Filed: Dec 12, 2024 · CIK: 1630805
| Field | Detail |
|---|---|
| Company | Babcock & Wilcox Enterprises, INC. (BW-PA) |
| Form Type | 8-K |
| Filed Date | Dec 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $0.4843750 |
| Sentiment | neutral |
Sentiment: neutral
Topics: divestiture, strategic-shift, financing
Related Tickers: BW
TL;DR
B&W selling its renewable stake to Oaktree for $100M, focusing on core biz.
AI Summary
Babcock & Wilcox Enterprises, Inc. announced on December 11, 2024, that it has entered into a definitive agreement to sell its remaining interest in the B&W Renewable segment to a fund managed by Oaktree Capital Management, L.P. for approximately $100 million. This transaction is expected to close in the first quarter of 2025, subject to customary closing conditions.
Why It Matters
This divestiture allows Babcock & Wilcox to focus on its core B&W Environmental and B&W Thermal businesses, potentially improving financial flexibility and strategic direction.
Risk Assessment
Risk Level: medium — The transaction is subject to customary closing conditions, and the successful integration and strategic benefits of the divestiture are yet to be fully realized.
Key Numbers
- $100 million — Sale Price (Proceeds from the sale of the remaining interest in B&W Renewable)
Key Players & Entities
- Babcock & Wilcox Enterprises, Inc. (company) — Registrant
- Oaktree Capital Management, L.P. (company) — Buyer of B&W Renewable segment interest
- B&W Renewable (company) — Divested segment
- $100 million (dollar_amount) — Sale price
- December 11, 2024 (date) — Agreement announcement date
- first quarter of 2025 (date) — Expected closing period
FAQ
What is Babcock & Wilcox Enterprises, Inc. selling?
Babcock & Wilcox Enterprises, Inc. is selling its remaining interest in the B&W Renewable segment.
Who is the buyer of the B&W Renewable segment interest?
The buyer is a fund managed by Oaktree Capital Management, L.P.
What is the approximate sale price?
The approximate sale price is $100 million.
When is the transaction expected to close?
The transaction is expected to close in the first quarter of 2025.
What is the filing date of this report?
The filing date of this report is December 12, 2024, with the earliest event reported on December 11, 2024.
Filing Stats: 465 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-12-12 06:36:01
Key Financial Figures
- $0.01 — e on which Registered Common stock, $0.01 par value per share BW New York Sto
- $0.4843750 — that the Company declare a dividend of $0.4843750 per share of its outstanding 7.75% Seri
Filing Documents
- tm2430890d1_8k.htm (8-K) — 29KB
- 0001104659-24-127802.txt ( ) — 255KB
- bw-20241211.xsd (EX-101.SCH) — 4KB
- bw-20241211_def.xml (EX-101.DEF) — 27KB
- bw-20241211_lab.xml (EX-101.LAB) — 37KB
- bw-20241211_pre.xml (EX-101.PRE) — 26KB
- tm2430890d1_8k_htm.xml (XML) — 8KB
01 Other Events
Item 8.01 Other Events. On December 11, 2024, the board of directors of Babcock & Wilcox Enterprises, Inc., a Delaware corporation, (the "Company") approved that the Company declare a dividend of $0.4843750 per share of its outstanding 7.75% Series A Cumulative Perpetual Preferred Stock (the "Preferred Stock"), with a record date for the dividend of December 21, 2024 and a payment date of December 31, 2024. The Preferred Stock is listed on the New York Stock Exchange under the symbol "BW PRA."
Signatures
Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. BABCOCK & WILCOX ENTERPRISES, INC. Date: December 12, 2024 By: /s/ Louis Salamone Louis Salamone Executive Vice President and Chief Financial Officer (Principal Accounting Officer and Duly Authorized Representative)