Oil and gas giant Wood plc sold to Dubai engineering firm

Wood plc, the Aberdeen-based oil and gas giant, has been sold to Dubai engineering firm Sidara following a shareholder vote backing the takeover offer. The company has faced financial challenges and a significant drop in value, leading to the acquisition. Sidara plans to inject $450m into Wood and develop the Wood brand as its engineering and materials division, with changes in leadership expected following the deal's approval.