Wood Group and Amec Foster Wheeler merger plans approved by watchdog
12 September, 2017
The UK’s competition watchdog Competition Markets Authority (CMA) has approved Wood Group’s proposed £2.2bn acquisition of Amec Foster Wheeler.
The CMA accepted Wood Group’s offer to sell a range of assets after it was found the merger could curb competition in the UK oilfield services sector.
Amec Foster Wheeler will now sell off almost all assets which contribute to engineering, construction and maintenance services in its upstream offshore oil and gas business in the UK.
Both firms hope this decision will clear the way for the deal to be completed in October.