Wood Group has moved a step closer to completing its $2.7 billion merger deal with Amec Foster Wheeler after anti-trust authorities in Mexico gave clearance for the combination.

A court hearing to sanction a scheme of arrangement is now set for 5 October, with approval expected the following day.

Wood had earlier this month said clearance from Mexican authorities was effectively the last hurdle in the path of completing the all-shares combination that was agreed in March.

Also in September, the UK’s Competition & Markets Authority (CMA) accepted a remedy solution involving asset sales in order to let the deal go ahead.

Under the all-shares combination, Amec Foster Wheeler shareholders will get 0.75 Wood shares for each of their own shares, leaving them holding 44% of the combined company.

Wood said the merger should lead to one-off costs of £190 million ($257 million today) over the first three years but also estimated savings through synergies of at least £150 million per year to the end of the third year.

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Wood closes on merger