John Wood Group has announced that its subsidiary, JWG Investments Limited, has completed the sale of its 50% stake in RWG Limited to Siemens Energy Global for $151m.

The transaction, which completed on 31 December, was initially outlined in July, and the value of the deal is subject to customary closing adjustments and transaction costs.

The announcement comes after Wood agreed to sell its UK Transmissions & Distribution engineering business to UI Telecoms & Power Holdco Limited for £57.5m. This deal completed on 30 December.

As outlined on 4 December, the engineering firm reiterated that its acquisition and equity effective date had occurred. As a result, it had access to $250m in Sidara interim funding and $200m in a new money facility.

Following the announcement, shares in Wood increased marginally by 0.42%.

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