In a statement, Worley has announced that it was recently informed by Jacobs Engineering Group Inc. that it had entered into a block trade agreement with Citigroup Global Markets Australia Pty Ltd to sell all Jacobs’ shares (being 9.85%) in Worley via an underwritten block trade.
Jacobs became a Worley shareholder following Worley’s acquisition of the Jacobs Energy, Chemicals and Resources division that included a share issue to Jacobs to partly fund the acquisition as previously announced on 22 October 2018.
Jacobs was released from the lock up of Worley shares on 23 December 2019 as previously announced on 13 December 2019.
Worley’s Chief Executive Officer, Chris Ashton said: “We welcome the shareholders who will join our register.”