Wood Group completes Amec Foster Wheeler acquisition

Wood Group has completed its 2.2 billion pounds purchase of London-based LNG engineer Amec Foster Wheeler.

Commenting on the closing of the acquisition, Robin Watson, Wood Group’s chief executive said it “creates a global leader in the delivery of project, engineering and technical services to energy and industrial markets.”

He added that the company’s integration planning is well progressed and the company has ensured that appropriate risk management and control processes are in place from day one.

“We have a clear organizational structure, my Executive Leadership team and their direct reports have been announced and we are now focussing on implementing a best of both approach for the wider organization,” Watson said.

Holders of ordinary shares of 50 pence each in the capital of Amec Foster Wheeler on the register at the scheme record time, being 6.00 P.M. on 6 October 2017, will receive 0.75 of an ordinary share of 4 2/7 pence each in the capital of Wood Group in exchange for each Amec Foster Wheeler share.

As a result, 294,510,216 New JWG shares will be listed on the Premium Listing segment of the Official List of the UK Listing Authority and will be admitted to trading on the London Stock Exchange’s main market from 8.00 A.M., Wood Group said.

John Wood Group appointments

As of October 9, Ian McHoul, Linda Adamany and Roy A Franklin have been appointed to the Wood Group board as non-executive directors.

Ian McHoul has been appointed senior independent director of Britvic with effect from September 1, and a non-executive director of Bellway with effect from February 1, 2018.

Roy Franklin has been appointed non-executive chairman of Premier Oil with effect from September 1, and resigned as a non-executive director of Santos with effect from September 30, Wood Group said.