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Amec Foster Wheeler in fraud investigation

Business

John Wood Group has confirmed Amec Foster Wheeler is being investigated by the Serious Fraud Office (SFO) for possible bribery and corruption related offences.

Yesterday (11 July) Amec Foster Wheeler announced the SFO had opened an investigation into the company, along with predecessor companies and people associated with the business.

“As announced by Amec Foster Wheeler, the investigation focuses on the past use of third parties and possible bribery and corruption and related offences,” said the John Wood Group in a statement.

In March the John Wood Group confirmed its £2.2bn takeover of Amec Foster Wheeler, due to take place later this year.

In a circular to shareholders released in May, Amec Foster Wheeler announced the SFO might begin an investigation into the company.

“Amec Foster Wheeler takes its obligation to conduct business ethically very seriously and has in place a robust global anti-bribery programme, including a detailed code of conduct and anti-bribery and corruption policies. Amec Foster Wheeler continues fully to co-operate with and assist the SFO,” said Amec Foster Wheeler in a statement.

The company added the investigation “is not expected to have an impact on the completion of the merger of Amec Foster Wheeler and John Wood Group”.

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