Neste Corp. (Espoo, Finland; www.neste.com) and Jacobs Engineering Group (Dallas, Tex.; www.jacobs.com) have agreed that Neste will acquire the 40% shareholding of Jacobs in Neste Jacobs Oy (www.nestejacobs.com). After this transaction, Neste holds all shares in Neste Jacobs.
“Neste Jacobs is the leading company specializing in process industry technology, engineering and project management services in the Nordic countries. Its global customers include oil, gas and petrochemical companies, in particular. Jacobs, one of the largest companies in the world in engineering, has been a minority shareholder for 14 years and provided Neste Jacobs with expertise and an international scope,” says Jyrki Mäki-Kala, CFO at Neste and Chair of the Board of Directors of Neste Jacobs.
“Neste Jacobs is an internationally respected company in its field. It is important that its quality continues to be high and its expertise remains competitive. Considering Neste, the engineering, project and technological expertise of Neste Jacobs supports the company’s growth strategy and operational efficiency,” Mäki-Kala says.
The sale and purchase agreement has been signed and the parties have agreed that the purchase price will not be disclosed.