BUZZ-Emcor Group shares down after UK unit divestment
Reuters
Sep 25
BUZZ-Emcor Group shares down after UK unit divestment
** Shares of US construction and engineering firm Emcor Group EME.N fall 1.54% to $634.74
** Co announces sale of its UK building services unit to OCS Group UK Ltd for ~190 mln pounds ($255.36 mln) enterprise value
** The company states the deal will improve its operating margin profile
** Emcor plans to use the proceeds to expand electrical and mechanical construction and mechanical services businesses
** Despite the session's drop, shares are up 40% year-to-date
($1 = 0.7440 pounds)
(Reporting by Krisha Bhatt)
((Krisha.Bhatt@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.