MRC Global to Sell Canadian Operations to Emco

MT Newswires Live

2024/12/16

MRC Global (MRC) said Monday it has agreed to sell its Canada operations to Emco as part of a strategic shift to focus on core geographies and higher-growth opportunities.

The deal is expected to close in H1 2025, subject to customary closing conditions. The divestiture is anticipated to result in a pre-tax, non-cash loss of about $25 million for its discontinued operations that will recorded in Q4, MRC Global said.

MRC Global said it plans to utilize sale proceeds for debt reduction purposes.

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