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A company that fights oil and engineering Wood Group, which aims to take over for anchorage based in Dubai, has eavesdropped on counselors who will move in parallel refinancial conversations with its lending while fighting a heavy debt burden.
The Scottish company cooperates with the bankers at Rothschild & Co on debt talks, according to three people familiar with the issue, undergoing the challenges facing Wood, whose share price has failed last month after a negative trading update.
Wood estimates fell to less than £ 200m two weeks ago – lower than the top of 5 billion pounds in the previous decade – as he continued to burn Gotovina ahead of the planned refinancation of $ 1.4 billion until October 2026.
Shares have climbed in recent days after Reported by the Financial Times That anchor returned with a fresh takeover approach after walking From a job to buy a company for £ 1.6 billion last summer. The conversations were later confirmed by companies.
Wood has not been able to reach an agreement with a group of private capital Apollo, which tried to buy the company for around £ 2.2 billion 2023.
Talks on debt refinancation are running on a separate path to discussing the takeover, people have said to be introduced to the situation.
Analysts warned that a steep drop in the price of Wood Suzio is the possibility of refinancation and made the capital of capital more challenging.
Wood and Rothschild refused to comment.
Wood based in Aberdeen was a rare story of multinational success in the UK in the development of the North Sea Energy Property, which led to partnership with such as ExxonMobil and Chevron. Its market value reached £ 5.3 billion in 2018, shortly after taking over the engineering rival Amec Foster Wheeler.
But the aggressive expansion of the company to the end of the previous decade left loaded debt and shareholders who nurture steep losses, which made one veterans in the industry say that the job is in the “spiral of death”.
CEO of Ken Gilmartin said Last month when he set up a “very clear path to a positive free money”, but investors remained suspicious of his strategy. Last month, the company revealed that the Deloitte review discovered the weaknesses of “material” management in the department for its projects.
Wood employs more than 35,000 globally and has 4,500 staff in Aberdeen, making it one of the biggest employers in British energy capital.
The company said it has a $ 6.2 billion order book at the end of 2024 and announced plans to reduce costs.
