Energy consultant settled financial reporting discrepancies with UK government auditor, with new contract awards up significantly last year, the firm said and a new CEO—Neil Bruce, who formerly led SNC Lavalin after its contracting corruprion scandals predating him.
UK engineer-contractor released delayed financial results for 2024 and first half 2025 required to finalize its proposed purchase by UAE engineering firm Sidara.
Under long-gestating deal set to complete in first half of 2026, Sidara will assume $1.6 billion of Wood Group debt and provide $450 million in cash for the financially strapped energy consultant.
U.K.-based energy and industrial services firm extends deadline for a firm offer from UAE-based Sidara or an end to discussions, as an audit of its accounting and corporate governance moves toward completion.
Dubai-based engineer Sidara exits deal at Aug. 9 deadline, citing "rising geopolitical risks and financial market uncertainty" but offering no details.
After rejecting three acquisition offers from Dubai-based AE consolidator Sidara, formerly Dar Group, energy-industrial services firm agrees to talks related to latest sweetened bid.
Latest acquisition offer from Sidara, formerly Dar Group, was its third in recent weeks but still "significantly undervalued" the energy specialist, it said.
The U.K.-based engineer's board had agreed to talks with Apollo after its
latest $2.1-billion purchase offer made in April, but neither company would say why discussions ended on an
official deal.
The global professional services firm says the deal advances its strategy for environmental consultjng services to account for one-third of its global annual net revenue by 2024.
