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TechnipFMC Holds to Separate into TechnipFMC and Technip Energies

Source: www.gulfoilandgas.com 3/15/2020, Location: Europe

TechnipFMC has put on hold plans to separate the Company into TechnipFMC and Technip Energies.

The Company said that market conditions have changed materially due to the COVID-19 pandemic, the sharp decline in commodity prices, and the heightened volatility in global equity markets. The impacts of these events have created a market environment that is not currently conducive to the Company’s planned separation into TechnipFMC and Technip Energies.

The Company reiterates that the strategic rationale for the separation remains unchanged. The Company is committed to the transaction and continues its preparations to ensure that the two companies are ready for separation when the markets sufficiently recover.

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