Offshore staff
DALLAS– Jacobs Engineering Group Inc. has signed a global enterprise framework agreement renewal with Shell Oil Co. to provide concept, front-end engineering, detailed design, procurement, project management, construction management, and construction services for Shell projects globally.
In addition, Jacobs and CH2M HILL Companies Ltd. have entered into a definitive agreement under which Jacobs will acquire all of the outstanding shares of CH2M in a cash and stock transaction with an enterprise value of about $3.27 billion.
Headquartered in Englewood, Colorado, CH2M is a design, engineering and program management firm.
The merger agreement has been unanimously approved by the boards of directors of both companies. Following the close of the transaction, CH2M stockholders will own 15% of Jacobs shares on a fully diluted basis based on the number of Jacobs shares outstanding today.
The transaction, which is expected to close in Jacobs’ fiscal 2018 first quarter, is subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by CH2M stockholders. Apollo Global Management LLC, which has an approximate 18% voting interest in CH2M, has agreed to vote in favor of the transaction.
08/02/2017
