29 April 2019
DETAILS
On 22 October 2018, WorleyParsons Limited
(“WorleyParsons”) (“Company”) entered into
a binding agreement to acquire
Jacobs Engineering Group Inc.’s (“Jacobs”)
Energy, Chemicals and Resources division
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On 29 April 2019
WorleyParsons today announced it has paid
the consideration to complete
the US$3.2 billion (A$4.55 billion) acquisition
of Jacobs ECR
and the acquisition was completed
on Friday 26 April 2019 New York time.
The new merged business is a pre-eminent
global provider of professional project and asset services
in energy, chemicals and resources
employing 57,600 people across 51 countries.
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WorleyParsons’ CEO
Andrew Wood
“This merger is about more than capacity and capability.
It’s about opportunity.
The opportunity to become
the partner of choice for our customers,
the employer of choice for our people
and to deliver enhanced returns for our shareholders.”
Cost synergies of approximately A$130m
at a cost of A$160m are anticipated
to be delivered within two years.
Further benefits will be achieved
from optimization and revenue synergies.
WorleyParsons has adopted
‘Worley’
as its new brand.
The Company name will be changed to
Worley Limited,
subject to the approval of members
at the AGM in October 2019.
The annual Investor Day will be hosted
on 5 June 2019 where we will provide
a more detailed update on the new company.
For more information, contact
Mark Trueman,
Director Planning & Investor Relations
on +61 2 8456 7256 /
at investor.relations@worleyparsons.com
or Mark Gell on +61 419 440 533 /
at mgell@reputationedge.com.au.
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