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WorleyParsons, a publicly traded Australian engineering services company, is expected to purchase the $ 3.3 billion energy, chemicals and resources division of Jacobs Engineering Group.
WorleyParsons will finance the transaction with a $ 2.9 billion (US $ 2.1 billion) fund-raising, A $ 985 million in Jacobs, and A $ 895 million in debt through a loan. a prerequisite for long-term financing. Jacobs will hold approximately 11% of the common shares of WorleyParsons.
The acquisition, which is expected to be completed in the next six months, would bring "complementary capabilities" to WorleyParsons, said managing director Andrew Wood.
Jacobs' director, Steve Demetriou, said the transaction marked "an inflection point" in the transformation of the company's portfolio.
Once the deal is finalized, Jacobs will focus on its two fast-growing business sectors: aerospace, technology, environment and nuclear, as well as buildings, infrastructure and advanced facilities, the company said.
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