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UK’s competition watchdog to investigate Jacobs’ acquisition of Wood Nuclear Limited

Times and Star 9th Jan 2020, The proposed £250 million acquisition of a major player in the clean-up of the Sellafield site in West Cumbria could be blocked. The Competition and Markets Authority (CMA) has launched an investigation into global engineering firm Jacobs’ acquisition of Wood Nuclear Limited – the nuclear arm of the Wood Group.

The proposal deal – announced in August last year – would see Wood Nuclear Limited along with “subsidiary and certain affiliated companies” come under control of Jacobs’ UK division. Jacobs would also take on existing contracts held by the business – which include managing the Design and Engineering lot for the Programme and Project Partners (PPP) framework.

20-year contract awarded last year by Sellafield Limited as part of its push to “revolutionise” the decommissioning of the site, could be worth up to £769 million. Wood’s nuclear division is already a long-standing big tier company at Sellafield and, in December was awarded a £50m contract to provide programmable digital control technologies to the plant.

https://www.timesandstar.co.uk/news/18148285.competition-watchdog-launches-probe-250-million-acquisition-major-sellafield-supplier/

January 11, 2020 - Posted by | business and costs, secrets,lies and civil liberties, UK

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