Firm: PwC Legal (WorleyParsons Limited), Baker Botts (WorleyParsons Limited’s US Counsel), Gilbert + Tobin (Jacobs Engineering Group Australian Counsel), Fried Frank (Jacobs Engineering Group US counsel)
Deal: WorleyParsons has achieved close on its acquisition of the energy, chemicals and resources division of Jacobs Engineering Group.
Value: $4.55 billion
Key players: The PwC team advising on local jurisdiction was led by Sydney-based Andrew Wheeler. The team included Matt Calabro, Jana Kiriazidis, Shannon Sau, Susanna Su and Sara Liu.
PwC’s banking and finance team, advising on finance matters alongside Sidley Austin, was led by Emma de Carle with Neha Goswami, David Chong and Mitch Frankland.
Deal significance: PwC Legal has reported that the acquisition of Jacobs Engineering Group Inc by WorleyParsons covers approximately 110 entities in more than 40 jurisdictions.
WorleyParsons is now a pre-eminent global provider of professional project and asset services in energy, chemicals and resources, employing almost 60,000 people across more than 50 countries as a result of the purchase.
The acquisition occurred on 26 April this year.
Commenting on the deal, Andrew Wheeler said it was “fantastic to be given the opportunity to work again with our long-standing client, WorleyParsons, on this transformational acquisition”.
“The scale of the deal and the time frame in which it needed to be implemented meant a true cross-border effort was required,” he noted.
“We relied heavily on PwC’s international network to come together to deliver a seamless and aligned outcome for our client.”
It comes after WorleyParsons Limited undertook a pro rate accelerated non-renounceable entitlement offer of new ordinary shares to existing shareholders last year, in anticipation of the Jacobs Engineering Group division acquisition.