{"id":530,"date":"2025-04-14T13:54:55","date_gmt":"2025-04-14T13:54:55","guid":{"rendered":"http:\/\/www.nyckidsproject.com\/?p=530"},"modified":"2025-04-17T19:40:50","modified_gmt":"2025-04-17T19:40:50","slug":"wood-group-nears-242-million-sale-to-dubai-based-sidara","status":"publish","type":"post","link":"http:\/\/www.nyckidsproject.com\/index.php\/2025\/04\/14\/wood-group-nears-242-million-sale-to-dubai-based-sidara\/","title":{"rendered":"Wood Group nears \u00a3242 million sale to Dubai-based Sidara"},"content":{"rendered":"<p><a href=\"https:\/\/highgrowth.scot\/wood-group-nears-242-million-sale-to-dubai-based-sidara\/\" title=\"Wood Group nears \u00a3242 million sale to Dubai-based Sidara\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" width=\"768\" height=\"549\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"webfeedsFeaturedVisual wp-post-image lazyload\" alt=\"\" style=\"margin: auto;margin-bottom: 24px;max-width: 100%\" data-src=\"http:\/\/www.nyckidsproject.com\/wp-content\/uploads\/2025\/04\/rwrrg-768x549-1.png\"><\/a><\/p>\n<p>Aberdeen-based engineering firm John Wood Group is close to finalising a \u00a3242 million sale to Dubai\u2019s Sidara, marking a key step in its recovery from financial struggles and governance issues.<\/p>\n<p>This offer, valuing shares at 35p, follows Sidara\u2019s abandoned \u00a31.5 billion bid last year. The deal also includes a \u00a3340 million cash injection to stabilise Wood\u2019s finances.<\/p>\n<p>Wood\u2019s share price rose 17% to 29p after the announcement, though still far below previous highs.<\/p>\n<p>The company has faced challenges including heavy debts, overstated profits, and the resignation of its CFO earlier this year.<\/p>\n<p>The acquisition would combine Wood\u2019s energy expertise with Sidara\u2019s engineering capabilities, creating a global leader in consultancy services.<\/p>\n<p>Wood will retain its brand and client relationships under Sidara\u2019s ownership. Both companies are conducting due diligence, with Sidara required to formalise its offer by April 17.<\/p>\n<p>Wood said: \u201cSidara has a strong track record of its acquired businesses prospering within the group.<\/p>\n<p>\u201cWood would continue to operate as a standalone, client-facing brand, maintaining its identity and trusted client relationships.\u201d<\/p>\n<p>\u201cThis would ensure business continuity for existing clients while creating growth opportunities for the combined group and strengthening Wood\u2019s commercial position.\u201d<\/p>\n<p>This deal could mark a turning point for Wood Group, providing stability and growth opportunities after years of turbulence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aberdeen-based engineering firm John Wood Group is close to finalising a \u00a3242 million sale to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/posts\/530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/comments?post=530"}],"version-history":[{"count":2,"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/posts\/530\/revisions"}],"predecessor-version":[{"id":533,"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/posts\/530\/revisions\/533"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/media\/532"}],"wp:attachment":[{"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/media?parent=530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/categories?post=530"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.nyckidsproject.com\/index.php\/wp-json\/wp\/v2\/tags?post=530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}