08:23 AM EST, 12/16/2024 (MT Newswires) -- 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 ( MRC ) said.

MRC Global ( MRC ) said it plans to utilize sale proceeds for debt reduction purposes.