Fortescue Metals Group Limited (ASX:FMG) entered into a share sale and purchase agreement to acquire Williams Advanced Engineering Ltd from Williams Grand Prix Holdings PLC (XTRA:WGF1) and EMK Capital LLP for £164 million on January 24, 2022. As per the transaction, Williams Advanced Engineering Ltd will be vertically integrated into Fortescue's diversified resources and green energy business and will be managed via Fortescue Future Industries. The acquisition will be funded from Fortescue's existing liquidity sources. As on CY21, Williams Advanced Engineering Ltd generated revenue of £61.9 million. The transaction is subject to approval by United Kingdom foreign investment and is expected to complete by the end of March 2022. As of January 3, 2023, Williams Advanced Engineering has rebranded to WAE Technologies. Orbis Partners Limited acted as financial advisor to Williams Grand Prix Holdings PLC. Clairfield International LLC acted as financial advisor to Williams Advanced Engineering Ltd.

Fortescue Metals Group Limited (ASX:FMG) completed the acquisition of Williams Advanced Engineering Ltd from Williams Grand Prix Holdings PLC (XTRA:WGF1) and EMK Capital LLP on March 1, 2022. Jones, Seth, Ford, Jim, Charlwood, Susanna, and Finlayson-Brown, Jane of Allen & Overy LLP acted as legal advisors to Williams Grand Prix Holdings PLC (XTRA:WGF1) in the deal.