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WorleyParsons Provides Update on Acquisition of Jacobs ECR

18 Apr 2019  |  16:53:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Update on acquisition of Jacobs ECR

WorleyParsons updated that it entered into a binding agreement to acquire Jacobs Engineering Group Inc.'s Energy, Chemicals and Resources division. As reported, the Company anticipates that the completion of the Transaction will occur after the market closes over the last weekend of April 2019. On completion the Company will employ 57,600 people in 51 countries, providing global sector leadership across hydrocarbons, chemicals and minerals & metals and will bring significant value upside through cost and revenue synergies. The Company further updated that following completion, it will adopt 'Worley' as its new brand with the domain name Worley.com. The Company will host its annual Investor Day on 5 June 2019.

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