Hunting confirms plans to sell Gibson subsidiary
Energy services Hunting on Tuesday confirmed it plans to sell its shipping subsidiary EA Gibson to an employee benefit trust.
FTSE 250
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12:00 23/09/24
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Hunting
403.00p
11:34 23/09/24
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Oil Equipment, Services & Distribution
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The transaction is expected to occur in March and is conditional on a number of matters such as the management of the subsidiary’s structure and funding.
Hunting said it would give more details in its full-year report due on March.
UBS bank on Tuesday also has slashed its target price for Hunting from 735p to 525p due to a “not encouraging” oil and gas sector in 2015.
Shares in the company were up 1.02% to 495p at 11:50.