Wood Group

Aberdeen's Wood Group has published its delayed financial results for full-year 2024 and the first half of 2025, a crucial step in its proposed takeover by Sidara. For the first six months of 2025, Wood reported a statutory loss for the period of $72 million (c. £55m). Despite the challenging

Wood Group's chief executive, Ken Gilmartin, is set to step down following a shareholder vote on Sidara's £206 million acquisition of the Aberdeen-based engineering firm. He will be succeeded by the current interim chief financial officer, Iain Torrens.

The potential takeover of Aberdeen's Wood Group by the Dubai-based conglomerate Sidara is set to generate more than £100 million in fees for City advisers, even as the deal risks collapse.

Sidara has tabled a formal £216 million bid to acquire the Aberdeen-based energy services giant Wood Group, valuing the company at 30p per share.

Aberdeen-based engineering firm Wood Group has sold its North American Transmission & Distribution business to power solutions group Qualus for $110 million (c. £82m).

Aberdeen-based engineering giant Wood Group is moving closer to a takeover by Dubai-headquartered Sidara, despite the bidder slashing its offer price by 14%.

Aberdeen-based energy services firm Wood Group and Dubai consultancy Sidara are nearing a takeover agreement, prompting a further extension of the offer deadline to 25 August.

UAE-based suitor Sidara is considering a cut to its takeover price for Wood Group, citing concerns over the Aberdeen-headquartered engineering firm’s ongoing investigation by the Financial Conduct Authority (FCA).

Wood Group's wholly-owned subsidiary, JWG Investments Limited, has agreed to sell its 50% stake in RWG (Repair & Overhauls) Limited to its joint venture partner, Siemens Energy, for a cash consideration of $135 million (c. £100m). The transaction is a key part of Wood's previously announce

The Financial Conduct Authority (FCA) has launched an investigation into Aberdeen-based energy services company, Wood Group, following the discovery of "material weaknesses and failures" in the firm's financial culture.

Aberdeen-based engineering firm Wood Group's chairman Roy Franklin acknowledged a "very painful period" for shareholders due to a significant collapse in the company's value, at its annual general meeting (AGM) this week.

Aberdeen-based Wood Group has seen the deadline for a potential takeover by Dubai-headquartered Sidara extended for a third time.

Aberdeen-based oil services firm Wood Group has announced significant North Sea contract extensions totalling $118 million (c. £93m) as the company remains the subject of a takeover approach from Dubai-based Sidara.

Shares in Aberdeen-based Wood Group have been temporarily suspended from the London Stock Exchange.

Aberdeen-headquartered Wood Group has received a takeover offer for 35p per share or £242 million from Sidara, a Dubai-based engineering and consultancy firm.