Wood Group

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.   

Aberdeen-headquartered Wood Group has announced it must restate financial results for its 2022 and 2023 financial years and the first half of 2024, following an independent review, which may lead to suspension of its shares from trading on the London Stock Exchange.

Aberdeen-headquartered engineering services firm Wood Group has granted Dubai-based Sidara an extension to the deadline for a potential takeover bid.