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BRIEF-WorleyParsons to acquire AFW UK

Published 09/10/2017, 09:17 am
Updated 09/10/2017, 09:20 am
© Reuters.  BRIEF-WorleyParsons to acquire AFW UK
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Oct 9 (Reuters) - Worleyparsons Ltd WOR.AX

* acquisition of AFW UK and associated capital raising

* Deal for enterprise value £182 million (a$303 million)

* entered into a binding agreement to acquire AFW UK Oil & Gas Limited

* Deal is expected to be EPS accretive to WorleyParsons and reduce net debt / EBITDA

* total acquisition consideration is £228 million

* entitlement offer will be used to fund 100% of AFW UK enterprise value pre-adjustments

* acquisition will be funded through entitlement offer of approximately $322 million

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