WSP Global Inc. (TSX:WSP) agreed to acquire Built Environment Consulting Business of John Wood Group PLC (LSE:WG.) for $1.8 billion on June 1, 2022. The transaction is to be financed with a new $1.81 billion fully committed term credit facility. For year ended December 31, 2021, Built Environment Consulting Business reported revenues of $1.2 billion, operating profit of $120 million, EBITDA of $149 million and gross assets of $1.1 billion. The transaction is subject to John Wood Group's shareholders approval, completion of reorganization and obtaining of regulatory approvals. The Acquisition is expected to be completed in second half of 2022. The primary and immediate use of the net cash proceeds from the transaction will be a reduction in the John Wood Group's net debt to strengthen our balance sheet and provide financial flexibility to deliver our strategy.

Richard Perelman and Alex Bruce of J.P. Morgan Securities plc along with Tom Perry and Matthew Jarman of Morgan Stanley & Co. International plc acted as financial advisors to John Wood Group PLC. Perella Weinberg Partners LLP acted as financial advisor to WSP Global. Linklaters LLP, Stikeman Elliott LLP and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisors to WSP Global. Paul Dickson, Simon Nicholls, Laura Houston, Mike Lane Partner, Bertrand Louveaux, Matthew Tobin, Richard Todd and Daniel Schaffer of Slaughter and May is acting as the legal advisor to John Wood Group PLC in this transaction. Laura C. Turano and Krishna Veeraraghavan of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to John Wood Group PLC. Miles F. Pittman, Yvan Houle, Jennifer Hanna, Laura Mensch, Subrata Bhattacharjee and Denes A. Rothschild of Borden Ladner Gervais LLP acted as legal advisor to John Wood Group PLC in the transaction.