FMC and Technip to Complete Merger in January
USA subsea equipment firm FMC Technologies and French engineering company Technip have jointly announced that they expect their merger to be formally complete by January 16.
Houston-based FMC and Paris-based Technip will form a new entity called TechnipFMC. Their planned amalgamation was first announced in May.
The parties also announced the filing of a Delaware certificate of merger pursuant to which FMC Technologies and a subsidiary of TechnipFMC will merge effective immediately after the merger between Technip and TechnipFMC on January 16, 2017, which will complete the business combination between FMC Technologies and Technip.
Trading of the TechnipFMC shares is expected to begin on January 17, 2017, on Euronext Paris at 9:00 a.m. (Paris time) and on the NYSE at 9:30 a.m. (New York time).
This approval by the High Court of Justice is subject to the Business Combination Agreement not having been terminated by the parties, the approval by the AMF of the prospectus regarding the listing of the TechnipFMC shares on Euronext Paris and the TechnipFMC shares having been authorized for listing and trading on Euronext Paris.
Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our close to 31,000 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges.
FMC Technologies, Inc. is the global market leader in subsea systems and a leading provider of technologies and services to the oil and gas industry.
