Dar Group announces that it has acquired a total exposure of 13.35% in the issued shares of WorleyParsons Limited, comprised of physical shares of 8.61% and a cash settled equity swap exposure of 4.74%.

Dar Group views WorleyParsons as the preeminent energy and design consultancy globally and respects the role the Chairman, Board and management team have played in establishing this market leading position. Dar Group has acquired the stake with a long term strategic perspective and looks forward to being a supportive shareholder.

Dar Group also confirms that it submitted an indicative proposal to acquire 100% of WorleyParsons shares in November 2016. The proposal’s conditions included the unanimous support of the WorleyParsons Board. The WorleyParsons Board declined to engage with Dar Group on the proposal and there have been no further discussions between the parties since that time.

Dar Group has no present intention of initiating discussions with WorleyParsons a change of control transaction.

About WorleyParsons

WorleyParsons delivers projects, provides expertise in engineering, procurement and construction and offers a wide range of consulting and advisory services. We cover the full lifecycle, from creating new assets to sustaining and enhancing operating assets, in the hydrocarbons, mineral, metals, chemicals and infrastructure sectors. Our resources and energy are focused on responding to and meeting the needs of our customers over the long term and thereby creating value for our shareholders.
WorleyParsons is listed on the Australian Securities Exchange [ASX:WOR]

About Dar Group

Dar Group is a privately owned international network of professional services firms, with over 18,000 staff operating from 200 offices across 58 countries dedicated to the planning, design, engineering and project management of facilities, installations and structures that contribute to the sustainable advance of communities worldwide.

Dar Group is ranked among the world’s leading architecture and engineering firms as demonstrated by its consistently strong ENR rankings. Dar Group is managed by its working partners who lead Dar Group’s key regions or service lines. Dar Group operates a multi-branded strategy consisting of architecture and engineering consultancy firms which include Dar Group, P+W, TY-L, PSP and C&B amongst others.