WorleyParsons receive US clearance for Jacobs ECR

Company News

by Rachael Jones

Clearance from the committee on foreign investment in the US has been received today for the WorleyParsons's (ASX:WOR) acquisition of Jacobs ECR division.

On October 22nd 2018 WorleyParsons entered into a binding agreement to acquire Jacobs Engineering Group Inc.’s Energy, Chemicals and Resources division .

They have also previously received clearance and regulatory approval from the European Commission, the Competition Bureau in Canada and the Competition Commission in South Africa.

It's anticipated that the completion of the transaction will occur by the end of April 2019.

On completion the company will employ almost 60 thousand people in 51 countries, providing global sector leadership across Hydrocarbons, Chemicals and Minerals & Metals.

Shares in WorleyParsons (ASX:WOR)

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.