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Struggling oil service and company engineering company, which is a target of dustai-based taking counselors with borrowers with heavy debt.
The Scottish Company works with Rothschild & Co Bankers in debt talks, according to three people who are familiar with a tree, whose challenges of wood, whose portion of trading.
Wooden valuing falls at least £ 200 weeks ago – from a peak over £ 5bn over the last decade – because it continues to withdraw $ 1.4bn recurrence of October 2026.
The parts to climb into recent days after Reported on finance that Sidara returned with a fresh go Walk From an agreement to buy the company for £ 1.6bn last summer. Later talks are confirmed by companies.
The tree has previously failed to achieve a private equity group Apollo, who attempted to buy the company for about $ 2.2bn in 2023.
Debt consuming talks are running a different track of capture discussions, people who are familiar with the state of being said.
Analysts warn that steep wood share price shot prevented refinancing options and made equity release more difficult.
Wood and Rothschild both refuse to comment.
Aberdeen-based wood is a remarkable story of homegrown success from the UK development of the North Sea Energy Assets, which leads to ExxonMobil and Chevron’s likes. Its market value peaked at £ 5.3bn in 2018, shortly after its takeover of engineering Rival Amec Foster Wheeler.
But aggressive company expansion until the end of the last decade it left loan and odd steeps in care of the speareholders, which prompts a veteran of the industry saying that business is in a “dying spiral”.
Chief executive ken gilmartin As In the last month he placed “a clear route of positive free cash flow to 2026” but investors were no doubt about its strategy. The company also exposes the previous month that a Deloitte review discovers the “material” weaknesses to handle its divisions.
Wood used over 35,000 in the world and has 4,500 Aberde staff, which makes it one of the UK energy owners.
The company says there is a book $ 6.2bn at the end of 2024 and announces the cutting plans of costs.