UK clears Wood Group, Amec Foster Wheeler merger

Offshore staff

ABERDEEN, UK – The UK’s Competition and Markets Authority has accepted the solution offered by Wood Group and Amec Foster Wheeler for their planned merger, and this is now expected to go through in October, following receipt of merger clearance in Mexico.

It takes in the majority of Amec Foster Wheeler’s UK upstream oil and gas business in the UK and serving UK customers (excluding its commissioning business, qedi).

Robin Watson, chief executive of Wood Group said: “Since we announced the deal in March, both parties have maintained a relentless focus on keeping on schedule.”

Jon Lewis, CEO of Amec Foster Wheeler, added: “We have made significant progress marketing Amec Foster Wheeler’s UK upstream oil and gas business to a range of high-quality bidders, which has helped to ensure that we will close the transaction in October, bringing the many benefits of the combined company to our clients, colleagues, and shareholders.”

09/12/2017