Wood Group has completed the sale of its 50% stake in RWG (Repair & Overhauls) Limited to Siemens Energy, securing cash proceeds of $151million.
The transaction, first announced in July and November last year, completed on 31 December 2025 and is subject to customary closing adjustments and transaction costs. The stake was sold via Wood’s wholly owned subsidiary, JWG Investments Limited.
The disposal is one of several steps taken by Wood to strengthen its financial position in recent months. In December, the company confirmed it had gained access to $250 million of interim funding from Sidara alongside a further $200million new money facility following the effective date of its amended and extended financing arrangements.
Wood has also recently completed the sale of its UK Transmission & Distribution engineering business to UI Telecoms & Power Holdco Limited for £57.5million, with that deal concluding on 30 December.
The company said there have been no other material changes affecting matters outlined in its previous announcements relating to the RWG transaction.
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