Slaughter and May is advising John Wood Group plc on the recommended acquisition by Sidara Limited

Slaughter and May is advising John Wood Group plc (“Wood”) on the recommended acquisition by Sidara Limited, an entity controlled by Dar-Al Handasah Consultants Shair and Partners Holdings Limited (“Sidara”), of the entire issued and to be issued share capital of Wood, to be effected by way of a court-sanctioned scheme of arrangement.

The acquisition is part of a holistic solution designed to provide financial stability to Wood and includes, amongst other things, (i) Sidara providing a US$450 million capital injection to Wood, (ii) Wood having agreed with its lenders to an extension of its committed debt facilities to October 2028 and (iii) additional and enhanced liquidity facilities for Wood.