Wood Group said on Thursday it has secured access to $450 million in new funding from Dubai-based suitor Sidara after satisfying key conditions, marking a significant milestone in a takeover bid that has spanned more than a year.

The British oilfield services and engineering firm said the deal is expected to complete in the first half of 2026.

(Reporting by Shanima A and Yamini Kalia in Bengaluru; Editing by Shailesh Kuber)