Wood Group, the Energy and Industrial Services Services, on June 12, extended until June 30, a deadline for the Sidari Engineer, before Dar Group, to make a new acquisition offer or final negotiations.
The date is when the resignation of Wood loans pacts is due to expire, according to the media, they report that the managers of the non -name companies.
Wood had announced in April a possible SIDARA offer, valued at $ 321 million and a possible “capital injection” of $ 450 million.
Wood’s shares have been suspended from the negotiation since May 1 on the London Stock Exchange, as an independent review of its accounting and corporate governance has delayed the publication of the end results of 2024.
“Wood and Sidarra continue to relate to the lenders and Wood holders in relation to the debt modifications and the Sidarra Liquidity arrangements. [the potential capital injection of $450 million]”, Wood said in a statement on June 12. The firm” continues to work with his auditor towards the publication of Wood audited accounts for the year completed on December 31, 2024. “
But the firm also said that he recently won an EPCM contract of $ 2.8 billion Gas Gas Ltd. owned by Abu Dhabi, for updates to his Habshan gas installation.
Wood provides for about $ 400 million in revenue through its services, with the field of the project to include substantial updates and unmold in Habshan and Habshan 5 existing gas processing complexes, including Brownfield modifications and the installation of new facilities.
Habshan is one of the largest gas process complexes in the world, according to Adnoc. The scope of the project will be completed by the end of 2027.
Sidarrara negotiations with Wood Group have been running since June 2024.
