Troubled Wood Group taps Rothschild for refinancing talks

Wood Group, a struggling oil services and engineering company, is in talks with advisers to refinance its heavy debt load while facing a takeover bid from Dubai-based Sidara. The company’s share price has plummeted, and despite previous failed buyout attempts, Wood is working on both debt refinancing and takeover negotiations simultaneously. Analysts have expressed concerns about Wood’s financial situation, with the company disclosing governance weaknesses and aiming to achieve positive free cash flow by 2026.

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