MRC Global to Sell Canadian Operations to Emco

MT Newswires Live
16 Dec 2024

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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