공고 • Jul 17
Petrofac Limited Announces Board Changes Petrofac Limited had appointed a new Board of Directors following its acquisition by a consortium led by Mason Capital and Pearlstone. The newly formed Board brought together extensive expertise from the engineering, procurement and construction (EPC) sector, alongside deep experience in corporate finance, governance, investment and business transformation. The Board comprised Michael Martino as Chairman, alongside Non-Executive Directors Samuel Read, Cesar Canals, David Davies and Farhan Mujib. Martino, founder and Principal of Mason Capital Management, brought nearly three decades of capital markets experience, with expertise spanning corporate restructurings, mergers and acquisitions, special situations and governance. He currently served as Executive Chairman of ATS Corporation and CB&I Holding, LLC, and was a board member of McDermott International. Read, a Partner at Mason Capital Management, had significant investment experience across engineering, infrastructure and industrial sectors. Previously with The Carlyle Group, he specialised in distressed and special situations investing, supporting companies through operational improvement and value creation initiatives. Canals added more than 40 years of leadership experience in global energy and engineering. Formerly Chief Executive Officer and President of CB&I, he had held senior operational roles across multiple international markets, including the United States, Saudi Arabia, South Africa and Argentina. Davies brought extensive financial and governance expertise, having served as Deputy Chairman of the Executive Board and Chief Financial Officer of OMV AG for 14 years. A former Non-Executive Director of Petrofac Limited, he provided continuity and institutional knowledge during the transition. Mujib contributed more than three decades of EPC and energy sector experience, including his role as President and Representative Director of JGC Corporation, where he became the company’s first non-Japanese executive leader. He previously held senior positions at KBR, delivering major international energy projects. 공고 • Apr 11
Chicago Bridge & Iron Company acquired Asset Solutions Business of Petrofac Limited (OTCPK:POFC.F). Chicago Bridge & Iron Company agreed to acquire Asset Solutions Business of Petrofac Limited (OTCPK:POFC.F) on December 24, 2025. Following the close of the transaction, CB&I will operate as one company with two global business units, CB&I Asset Solutions based in Aberdeen, Scotland, and CB&I's existing operations, CB&I Storage Solutions, based in The Woodlands, Texas. Approximately 3,000 Petrofac employees are expected to join CB&I at the close of the transaction. On January 30, 2026, It was announced that the Petrofac announces that at a meeting of creditors held this morning, the proposed Company Voluntary Arrangement (“CVA”) related to the sale of the Asset Solutions business was approved by 99% of creditors voting and 86% by value of claims. Approval of the CVA was a key condition to the sale of Asset Solutions to CB&I and means the process is continuing as expected.
Completion of the transaction is subject to certain conditions including approval from certain secured and unsecured creditors of the Assets Solutions business which is currently expected to be obtained by the end of January 2026. The transaction is anticipated to occur in the first quarter of 2026. As of March 2, 2026, The transaction is expected there will be a delay in completion of the sale of Asset Solutions to CB&I. As of March 12, 2026, further to the announcement of March 2, 2026, confirming a challenge to the Company Voluntary Arrangement (“CVA”) by HM Revenue and Customs (“HMRC”), Petrofac is pleased to confirm that the challenge has been rejected at a hearing in Edinburgh.
The sale has been agreed on a debt-free cash-free basis. The net proceeds from the transaction will be distributed to secured creditors in accordance with the intercreditor agreement entered between Petrofac and secured creditors.
Chicago Bridge & Iron Company completed the acquisition of Asset Solutions Business of Petrofac Limited (OTCPK:POFC.F) on April 9, 2026. 공고 • Oct 20
Petrofac Limited Announces Restructuring Update Further to its announcement on 1 October 2025, in which Petrofac Limited advised it was advancing more than one route to implement the Restructuring, it confirms that the Restructuring will result in no residual value being retained by existing shareholders. The Company remains focused on completing the Restructuring in the shortest possible time and by the end of November 2025. It has made very good progress towards implementation, and expects to shortly conclude a Lock Up Agreement in respect of the identified implementation route, which will support the Group’s operational capability and ongoing delivery. The Group expects to share further detail in the coming days. 공고 • Jul 03
Petrofac Limited Announces Court of Appeal Upholds Appeal Against Restructuring Plan The Court of appeal has upheld an appeal, brought by certain creditors connected with the Thai Oil project, against the Order of the High Court which sanctioned the Restructuring Plans of Petrofac Limited and Petrofac International (UAE) LLC. The appeal was upheld on narrow grounds associated with the terms of the New Money financing and the evidence provided in support of it, that had previously been accepted by the High Court. All other grounds of appeal were unsuccessful. The Company is carefully studying the detailed judgment, which was made available to it this morning, and will discuss with key stakeholders the implications of the judgment and potential routes forward. The Company will provide further updates in due course. 공고 • Jul 02
Petrofac Limited(LSE:PFC) dropped from FTSE All-Share Index (GBP) Petrofac Limited(LSE:PFC) dropped from FTSE All-Share Index (GBP) 공고 • Jan 08
Petrofac Limited Announces Resignation of Sara Akbar as Non-Executive Director, Effective from 31 January 2025 Petrofac Limited announced that Non-executive Director Sara Akbar has notified the Board of her intention to step down from her duties to pursue other business interests. She will do so from 31 January 2025. a result of the Board changes announced now, the Directors now sit on the following Board Committees as follows; Nominations Committee: René Médori (Chair), Matthias Bichsel, David Davies. Audit Committee: David Davies (Chair), Matthias Bichsel, Aidan de Brunner. Compliance & Ethics Committee: Mattias Bichsel (Chair), David Davies, René Médori. Remuneration Committee: Matthias Bichsel (Chair), David Davies, René Médori. Special Committee: Aidan de Brunner (Chair), Tareq Kawash, Afonso Reis e Sousa. 
