M&A - Babcock & Wilcox Enterprises, Inc.

Form Type: 8-K

Filing Date: 2025-05-05

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925044533

Filing Summary: On April 29, 2025, Babcock & Wilcox A/S (BWAS), a subsidiary of Babcock & Wilcox Enterprises, Inc., sold a majority of its assets, including intellectual property, specific project contracts, and tangible assets, to Kanadevia Inova Denmark A/S. The transaction involved a simultaneous asset transfer to a newly incorporated BWAS subsidiary (NewCo) and a sale of NewCo to the Buyer under a business transfer agreement (BTA) and share purchase agreement (SPA). The base purchase price is $15 million plus 400,000 Danish krone. BWAS will receive additional payments if the Buyer enters into specific project agreements within five years. A $5 million loan agreement was made, with repayment tied to the transfer of certain intellectual property rights. Transition services, intellectual property licensing, subcontractor agreements, and cooperation memorandums were also established with the Buyer. No material relationship exists between the Company and the Buyer aside from this transaction.