£40M WINDFALL FOR OIL BOSS AFTER ABERDEEN FIRM BUYOUT
chief executive of Aberdeen-based Production Services Network (PSN), is to receive close to £40mas managers at the company prepare for a £150mwindfall on its acquisition by rival Granite City oil services company WoodGroup. WoodGroup is paying a company record $955m (£633m) for PSN. This includes $325mof debt. Management and staff, whohave just in excess of 40% of PSN’s shares, will receive in total about £158m.