By Rhiannon Hoyle

SYDNEY--Jacobs Engineering Group Inc. (JEC) will sell its energy, chemicals and resources business to Australia's WorleyParsons Ltd. (WOR.AU) for US$3.3 billion.

The deal, comprising US$2.6 billion in cash and US$700 million in WorleyParsons shares, will allow Jacobs to focus on its most profitable units, including its aerospace and infrastructure businesses. Jacobs, via the share deal, will also take a roughly 11% stake in WorleyParsons.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

October 21, 2018 20:30 ET (00:30 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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