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Conyers advises Foster Wheeler on US$109 million acquisition of MDM Engineering Group Limited

March 2014 Anton Goldstein

Conyers Dill & Pearman has advised Foster Wheeler AG (Nasdaq: FWLT) (“Foster Wheeler”) on its agreement to acquire MDM Engineering Group Ltd. (AIM: MDM) (“MDM Engineering”).

Based in South Africa and incorporated in the British Virgin Islands, MDM Engineering is a minerals process and project management company focused on the mining industry. Founded in 2006, the company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. The company has approximately 280 employees.

The purchaser is a newly incorporated British Virgin Islands company which is an indirect wholly owned subsidiary of Foster Wheeler which entered into a merger implementation agreement with MDM Engineering to acquire all of the ordinary shares and options in issue of MDM Engineering in a cash transaction valued at approximately US$109 million.

Foster Wheeler is a global engineering and construction company and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company’s Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, minerals and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations

The transaction is subject to MDM Engineering shareholder approval and other closing conditions.

The Conyers team, which worked alongside Latham & Watkins LLP on the transaction, was made up of Anton Goldstein and Patrick Ormond.

 


Anton Goldstein
Partner

British Virgin Islands   +1 284 852 1119


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