MDU Resources Files With SEC For Planned Spinoff Of Its Construction Services Business

(RTTNews) - MDU Resources Group, Inc. (MDU) Monday said 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.

"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.