Neste acquires Jacob Engineering's stake in Neste Jacobs

Renewable diesel Neste and US-headquartered Jacobs Engineering Group have agreed that Neste acquires the 40% shareholding of Jacobs in Neste Jacobs Oy.

After this transaction, Neste holds all shares in Neste Jacobs.

"Neste Jacobs is the leading company specialising in process industry technology, engineering and project management services in the Nordic countries,” said Jyrki Mäki-Kala, CFO at Neste and chair of the Board of Directors of Neste Jacobs.

“Its global customers include oil, gas and petrochemical companies, in particular. Jacobs, one of the largest companies in the world in engineering, has been a minority shareholder for 14 years and provided Neste Jacobs with expertise and an international scope.

"Neste Jacobs is an internationally respected company in its field. It is important that its quality continues to be high and its expertise remains competitive. Considering Neste, the engineering, project and technological expertise of Neste Jacobs supports the company's growth strategy and operational efficiency.”

The sale and purchase agreement has been signed and the parties have agreed that the purchase price will not be disclosed.

The largest customers of Neste Jacobs include e.g. Neste and Borealis. The company employs 1,300 experts in engineering, technology and project management who work on projects in many different countries.

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