UK watchdog approves Wood Group-Amec Foster Wheeler merger

For illustration purposes only (Image courtesy of Wood Group)

The UK’s competition watchdog has approved Wood Group’s 2.2 billion pounds purchase of London-based LNG engineer Amec Foster Wheeler.

This follows the Competition and Markets Authority’s in principle acceptance on 15 August.

The watchdog said that Wood Group’s offer to sell almost all of Amec’s North Sea assets in engineering and construction services and operation and maintenance services is sufficient to clear competitive concerns.

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

“Today’s earlier than anticipated decision from the CMA allows us to move forward with pace and we are very confident of completing the acquisition of Amec Foster Wheeler in October,” added Watson.

 

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