WorleyParsons Announces Acquisition of 3sun Group Ltd

October 28, 2019 01:35 PM AEDT | By Team Kalkine Media

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WorleyParsons Limited (ASX: WOR) has announced the acquisition of 100 per cent shares in the 3sun Group Ltd for an enterprise value of Â£20 million. The acquisition will provide Worley a leading position in the high growth offshore and wind energy service sector in UK and Europe.

Benefits from the acquisition include:

Acceleration of Worleyâs offshore wind energy strategy;
Entry in offshore wind energy Operations and Maintenance business (Q&M);
The acquisition will allow Worley to extend 3sun capabilities to larger projects and long-term Q&M contracts;
The combination of the 3sun capability with Worley will help in expansion in North America and Asia Pacific region;
Worley data analytics and management capability will provide additional benefit to the 3sun customers;

At AEST (12:54 PM), the stock was trading higher at $13.735, up by 0.329 per cent from the previous close.

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