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Australia's WorleyParsons to buy AFW's former oil & gas assets for $298 mln

Reuters - UK Focus

Oct (Shenzhen: 000069.SZ - news) 9 (Reuters) - Australian engineering firm WorleyParsons Ltd said on Monday it would buy the former upstream oil and gas assets of Britain's Amec Foster Wheeler Plc (Other OTC: AMCBF - news) for 228 million pounds ($298.22 million), marking its entry into the UK North Sea market.

WorleyParsons (Dusseldorf: WF9.DU - news) said in a statement on Monday that it would launch an A$322 million ($250.32 million) entitlement offer to pay for the acquisition. ($1 = 1.2863 Australian dollars) ($1 = 0.7645 pounds) (Reporting by Susan Mathew in Bengaluru; Editing by Byron Kaye and Richard Chang)