The deal, expected to finalize later in 2024, is subject to necessary approvals. SCIO Automation, headquartered in Germany, specializes in automating production and logistics processes.
Market Reaction and Recent Developments
John Wood, listed on the FTSE 250 index of the London Stock Exchange, recently faced a sharp decline in its share price. This drop followed the withdrawal of a £1.6 billion takeover offer from Engineering consultancy Sidara. The bid was retracted due to “geopolitical risks and financial market uncertainty” after Sidara completed its due diligence on August 2.
John Wood to Sell Non-Core Businesses : Legal and Advisory Teams
Davis Polk & Wardwell LLP is representing One Equity Partners in the Ethos Energy deal, while SCIO Automation will handle the acquisition of CEC Controls. The legal complexities of these transactions underscore the high stakes involved as John Wood repositions its portfolio.