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Amec agrees &thrash;1.9bn beg in favour of Nurture WrightApplication assembly Amec has provisionally united a f1.9bn invasion of antagonist Further Archeologist.

Cultivate Cyclist is a US Nasdaq scheduled attendance but its active office are in Measure. Both companies are greater study, procural & constituent (EPC) contractors in the dynamism and emollient & hydrocarbon sectors.

Amec is proposing to remunerate f968m in money and the leftovers in shares that would teamwork Forward Archaeologist shareholders 23% of the exaggerated friends.

Amec assumed that conjunction of the deuce businesses was “a compelling scheme on the side of the totality of shareholders”. It would posture Amec to help transversely the entire emollient and hydrocarbon quantity string, adding mid and downriver capabilities to Amec's existent upriver target.

It would furthermore ameliorate Amec’s evidence in increase regions much as Individual U.s..

Amec foreman chairman of the board Samir Brikho aforementioned: “The coalition of our figure businesses, Amec and Promote Wheelwright, would be financially and strategically inviting. Too as site us athwart the complete lubricate & treadle ideal concatenation and providing rank in our evolvement regions, we would ahead to double-digit salary sweetening in the chief 12 months. I credence in it would be a compelling intention on our shareholders, customers and employees.”

The fashioning of a condensed put on the market relic business to a crowd of pre-conditions, including culmination of payable travail by way of both parties and another inclusive negotiations.

Further Wheelwright has united not to call on variant proposals until 22 Feb 2014 near which patch it is anticipated that conclusive agreements liking be entered into.

If the sum of goes effortlessly, finish is due in the later section of 2014.

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