Petrofac Limited (LSE:PFC) has issued an update on its ongoing restructuring process, confirming that it will result in no residual value for current shareholders. The company expects the restructuring to be completed by the end of November 2025 and reports solid progress toward finalizing a Lock Up Agreement aimed at safeguarding operational capacity and stability. This development marks a pivotal moment for Petrofac as it works to stabilize its business and reposition itself in the energy services market.
More about Petrofac
Petrofac is a global service provider to the energy sector, specializing in the design, construction, operation, and maintenance of infrastructure for oil, gas, petrochemicals, refining, and renewable energy projects. Its operations are concentrated in the Middle East, North Africa, and the UK North Sea, with additional markets in India, Southeast Asia, and the United States. The company is listed on the London Stock Exchange, though trading remains suspended pending the release of its Full Year 2024 audited accounts.
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