July 21 - The UK Serious Fraud Office (SFO) has opened an investigation into the activities of Amec Foster Wheeler for suspected offences of bribery, corruption and related offences.
The investigation will cover "the activities of Amec Foster Wheeler and any predecessor companies owning or controlling the Foster Wheeler business, together with the activities of any subsidiaries, company officers, employees, agents and any other person associated with any of these companies."
According to a compendium published by Trace International, an anti-bribery and compliance association, US and UK authorities are investigating the use of agents by Amec Foster Wheeler in the Middle East and other regions.
The investigation follows an offer by Wood Group in March 2017 to acquire Amec Foster Wheeler, as HLPFI reported here.
In relation to the SFO investigation, Trace claims that Wood Group is conducting an internal inquiry into payments made by one of its joint ventures to Monaco-based Unaoil, which has been under investigation by the SFO since July 2016.