Wood deal re­quires as­set sale

The Daily Telegraph - - Markets - By Jil­lian Am­brose

REG­U­LA­TORS have called for a ma­jor sale of North Sea assets to oil the wheels of Wood Group’s £2.2bn takeover of Amec Fos­ter Wheeler.

The pair both offer oil­field ser­vices to ex­plor­ers op­er­at­ing in the North Sea, and the Com­pe­ti­tion and Mar­kets Author­ity said the deal could raise costs.

The merger will re­duce the num­ber of ma­jor play­ers ac­tive in the North Sea’s oil­field ser­vices business from four to three.

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