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Once the results are released, I am confident another bidder will come forward.

FT

Sidara is frustrated about the time it is taking Wood to file its accounts for 2024, according to the report.

Simple answer, walk away, seems to me that this is just another tactic from Sidara.

Wood can survive without Sidara and recover well in 2025

Fingers crossed WG results are better after re-jig and Sidara have to make a firm bid with a better offer than what is currently flying around if it is serious about it.

Sidara will double the size of what it states below if successful.

On LinkedIn, Sidara.

Since our journey began over 65 years ago, we’ve advanced through steady growth and purposeful strategic acquisitions—investing in companies with exceptional talent and deeply rooted cultures. Together, we’ve shaped Sidara into the world-class group that we are today: united in our dedication to building a healthier, more equitable world.

Operating from 308 offices across 60 countries and powered by 21,500 people, we bring together planning, design, engineering, and project management to deliver meaningful solutions—from energy and infrastructure to healthcare, aviation, and the environment.

Sidara at a glance: 

 

✅ $3.2B in 2024 Group Revenue: 45% from the Americas, 41% from MEA, 9% from Europe, 5% from APAC 

✅ Ranked Top 10 in ENR’s International Design Firms for 16 years 

✅ 69-year legacy built by 48 shareholder partners—rebranded as Sidara in 2023

Explore our latest 2025 Factsheet to find out more.

When you take other companies debts into consideration and the turnover of these companies, WG is a gem

Example of madness CityFibre has a debt of £4.9 billion, you would think that it couldn’t raise by more funding but No, from today’s news

One of the biggest challengers to BT's Openreach has secured a lifeline £2.3 billion in funding, as it gears up to acquire smaller rivals within the under-pressure broadband industry.

CityFibre has agreed a further £960 million in debt with lenders including ABN Amro, ING and Lloyds, alongside Britain's new National Wealth Fund, as well as an additional £800 million facility that the company has the option to unlock to help finance its consolidation plans.

Revenue for 2024 was £134 million

Robotics/AI will always play a support role only in the industry that WG are in, there are plenty of examples of this.

Currently on LinkedIn

Senior Instrumentation Engineers required,

Wood Abu Dhabi is urgently looking for 4 Senior Instrument engineers to support our Dubai office for an ongoing FPSO Development at Dubai Drydocks. If you have FPSO or Offshore experience, please contact me on LI asap.

Please note we are only looking for candidates with strong offshore or FPSO experience.

Waiting for another big contract news this month, plenty of major infrastructure projects still to win.

The accounts will be released, WG will want to see if there are other offers apart from Sidara.

Madness not to, Sidara won’t want this, especially as it has had its hand in the review/audit.

I would imagine that WG will play this very smart this time.

US private equity group KKR has struck a deal to buy Spectris, the FTSE 250 instrumentation and testing group — trumping an offer from rival private equity group Advent.

Last week the Spectris board recommended that shareholders accept a cash offer of £37.63 a share from Advent International.

But the board has switched its recommendation this morning after KKR tabled a £40-a-share all cash deal, which values the group at £4.1 billion. The offer is at a 96 per cent premium to the £20.38 shares were trading at before Advent tabled its first offer in June.

Spectris shares were trading at more than £40 in late 2021, but the company has been hit by a decline in revenues and profits and the market volatility prompted by trade war concerns.

same article times today

franklin told the annual meeting a fortnight ago that he would “step down … as soon as there is greater clarity regarding wood's future direction”, while three other non-execs have already left the sinking ship: susan steele and two hires from 2024 — the bab**** boss david lockwood and halma's chief technology officer catherine michel. they're off after “legal advice in light of the exceptional time commitments demanded by the company's current position” — not just embarrassment then?

but questions need to be asked of the entire value-destroying board that has served under franklin. and not least of gilmartin, who joined in 2022; david kemp, the finance chief from 2015 to 2024; and adrian marsh, head of the audit, risk and ethics committee. it's not every day the fca gets the chance to quiz so many remarkable people.

Agree, this being extended is good news, makes sense to wait until the results are published and also the FSA investigation to be completed before suspension is lifted.

More contracts will also come in during July and then Sidara and others can then reassess the true value of the Business.

With everything at stake, I am expecting to see the audit complete together with YE results revealed on the 30th June, 8 weeks late from the deadline of 30th April to allow WG to put closer to this farce.

Apollo has become a pioneer in lending billions of dollars to some of the world’s largest companies and has recently provided private credit to groups including Intel, Air France and AB InBev

The deal is another sign of how private credit has expanded its reach and is challenging both traditional lending from banks and high-grade bond markets.

EDF opted for private over public issuance partly due to the smaller sterling market compared to euro or dollar-denominated bonds.

Who would have thought Apollo would do this ?

The deal is another sign of how private credit has expanded its reach and is challenging both traditional lending from banks and high-grade bond markets.

Apollo Funds have agreed to provide up to £4.5 billion of financing to EDF, a leading European energy provider. This secures a substantial portion of EDF’s investments in the UK over the next three years, in particular the Hinkley Point C nuclear power station project. This is the largest-ever capital funding transaction executed by EDF and the largest private credit transaction in the sterling market

https://www.ft.com/content/d4e6b540-ae57-434f-9eea-9d96431980e9

Disagree on your take on contracts.

JO

Recent new contracts will have a positive impact on Wood Group's business. Too many for me to go to in detail, but go through Woods news section and it is clear to see that it will have boosted their order book and revenue and there will be more to which be mean positive cash flow sooner than predicted.

Agree pal, I do think that will see more contracts come in each month. WG seems to be doing everything right with regards winning contracts, I would rather be in this position than doors being closed.

Wood have been selected by Ecopetrol to deliver the detailed engineering design for the Línea Base de Calidad de Combustibles (LBCC) Clean Fuels project at the Barrancabermeja refinery, a major step toward producing cleaner fuels in Colombia.

https://www.woodplc.com/news/latest-press-releases/2025/wood-to-design-upgrades-at-ecopetrol-refinery-for-cleaner-fuels-production

⚡Cleaner gasoline production is set to begin by 2030, marking a significant milestone in Colombia’s main refining centre.

https://www.woodplc.com/news/latest-press-releases/2025/wood-to-design-upgrades-at-ecopetrol-refinery-for-cleaner-fuels-production

Expected this today, no worries results will be out soon. I still think we will see another bidder on board very soon, my bets are on Apollo or entering the potential takeover.

Apollo had a vested interest a couple of years ago, and were willing to pay far more than 35p + (capital investment amount) knowing Sidara are interested in taking over WG, Apollo will have had lots of discussions around having another go, if not it is lost for good which possibly affects long term plans that it had to come back in the future if all the issues had been dealt with.

We may even see another bidder that see doesn't want WG to be sold to Sidara who are owned by Dar Al-Handasah Consultants Shair and Partners Holdings Ltd, Headquarters Beirut, Lebanon

JO, you say you see bad accounts on an almost weekly basis, we lenders do not like any surprises without just cause, particularly bad surprises.

Seems very odd thing to say when this is more than likely completely different to anything you have ever worked on.

The accounts could surprise even you with seeing what is made public in the YE accounts.

This is why I think WG also delayed the results, the bigger picture was seen only by them and the partners involved in the contract discussions.

WG knew there were plenty to shout about, but needed to buy time to allow them to demonstrate that Wood is more healthy than many think including Sidara.

Well done WG, that’s 11 major contracts signed over the past 5 months, great achievement.