Troubled Wood Group is to sell off its North American transmission and distribution business in a 110 million US dollars (£81.5 million) deal.

The proposed sale of the division comes days after Wood revealed a Dubai-based suitor for the group had reduced its takeover offer.

Shares in the Aberdeen -headquartered engineering and energy services firm ticked higher on Friday morning after it revealed the planned disposal.

It is the latest move to trim the business as part of a plan to simplify its operations.

Join Aberdeen Live’s WhatsApp community here and get the latest news sent straight to your messages

Bosses said the latest deal means Wood has significantly exceeded plans announced earlier this year to secure between 150 million dollars (£111 million) and 200 million dolla

See Full Page