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MDU Resources Group, Inc. (NYSE:MDU) announced today that it has submitted a confidential draft registration statement on Form 10 with the U.S. Securities and Exchange Commission in connection with the planned spinoff of its construction services business, Everus Construction Group.
MDU Resources expects the spinoff of Everus Construction Group to be complete in the fourth quarter of 2024, subject to final approval by MDU Resources' board of directors. MDU Resources announced on March 13 that its construction services business, MDU Construction Services Group, had been rebranded as Everus Construction Group.
"When the spinoff of the construction services business is complete late this year, MDU Resources will be a pure-play regulated energy delivery business," said Nicole A. Kivisto, president and CEO of MDU Resources. "This will allow MDU Resources and Everus each to focus on our individual business growth opportunities, which will allow us to continue to maximize value for shareholders."
MDU Resources had announced Nov. 2, 2023, that it intends to separate its construction services business as an independent, publicly traded company. With the initial filing of the Form 10, MDU Resources remains on track to complete the spinoff of Everus in late 2024.
Posted In: MDU
