Foster Wheeler To Buy MDM Engineering Group - Quick Facts

(RTTNews) - Foster Wheeler AG (FWLT) announced that an indirect subsidiary of the company has entered into a merger implementation agreement with MDM Engineering Group Limited (MDM.L) to acquire all of the ordinary shares and options in issue of MDM Engineering in a cash transaction valued at approximately $109 million.

MDM Engineering Group said its shareholders will be offered 1.70 pounds for each MDM share they hold.

MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. The company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. To date, the company's clients have largely been junior and mid-tier mining corporations with operations in Africa.