Wood Publishes Scheme Document for Sidara Takeover

John Wood Group plc (LSE:WG) has published the scheme document for its proposed cash takeover by Sidara Limited, the UK entity controlled by Lebanon-based Dar-Al Handasah Consultants Shair and Partners Holdings Ltd. The transaction, first announced on 29 August 2025, is to be implemented by way of a scheme of arrangement under Part 26 of the Companies Act 2006.

The Aberdeen-headquartered engineering and consulting group traces its roots to 1912 and has grown into one of the UK’s largest energy services businesses, providing project management, design and consulting support across oil and gas, renewables and infrastructure. In recent years, Wood has struggled with debt and profitability challenges following a series of acquisitions and a sharp downturn in upstream oil and gas markets, prompting the board to evaluate strategic alternatives.

Sidara, a global design and engineering consultancy better known by its Dar brand, has targeted Wood to strengthen its global energy transition and infrastructure offering. Under the terms of the deal, Sidara will acquire the entire issued and to-be-issued share capital of Wood through a scheme requiring both shareholder and court approval.

Court and general meetings have been convened for 12 November 2025. To proceed, the scheme requires approval from a majority in number representing at least 75% in value of scheme shareholders, and from 75% of votes cast at the general meeting.

The board, advised by Europa Partners, Rothschild & Co, J.P. Morgan Cazenove and Morgan Stanley, has unanimously recommended the deal. If it is approved and sanctioned by the court, trading in Wood shares on the London Stock Exchange is expected to cease shortly after the sanction hearing.