Last checked at 27 Oct 2017 17:20
WOOD GROUP (JOHN) PLC - DisposalWOOD GROUP (JOHN) PLC - Disposal
PR Newswire
London, October 27
27 October 2017
John Wood Group PLC (“Wood”)
Completion of disposal of majority of Amec Foster Wheeler’s UK North Sea operations
On October 9 2017, WorleyParsons Europe Limited entered into a binding agreement to acquire the majority of Amec Foster Wheeler’s UK North Sea operations. Wood confirms the completion today of the sale of those operations for a cash consideration of £227 million. The cash proceeds will be used to reduce net debt.
The business being sold consists of the majority of Amec Foster Wheeler’s UK upstream oil and gas business located in the UK and serving UK customers (excluding its commissioning business, qedi).
Note to Editors:
Wood is a global leader in the delivery of project, engineering and technical services to energy and industrial markets. We operate in more than 60 countries, employing around 55,000 people, with revenues of over $11 billion. We provide performance-driven solutions throughout the asset life-cycle, from concept to decommissioning across a broad range of industrial markets including the upstream, midstream and downstream oil & gas, chemicals, environment and infrastructure, power & process, clean energy, mining and general industrial sectors. We strive to be the best technical services company to work with, work for and invest in. www.woodplc.com
Enquiries:
WoodAndrew Rose, Head of Investor Relations Tel: +44 (0)1224 532716
Brunswick (Public Relations Adviser to Wood)Patrick Handley Tel: +44 (0)20 7404 5959 Charles Pemberton
John Wood Group PLC LEI: 549300PLYY6I10B6S323