Technip Energies France, a subsidiary of Technip Energies NV (PARIS: TE) (ISIN: NL0014559478), has agreed to resolve its outstanding matters with the French Parquet National Financier (PNF). The resolution encompasses historical conduct that related to subsea projects undertaken by the former Technip S.A. group between 2008 and 2012.
This settlement, in the form of a Convention Judiciaire d'Intérêt Public (CJIP), was signed on 22 June 2023 and remains subject to final approval by the President of the Tribunal Judiciaire of Paris at a hearing scheduled on Wednesday 28 June 2023.
Under the terms of the CJIP, Technip Energies France agreed to pay by 23 October 2023 a public interest fine of €54.1 million. €24.7 million of this amount will be indemnified by TechnipFMC under the terms of the Separation and Distribution Agreement between TechnipFMC and Technip Energies, dated 7 January 2021.
Upon its creation in 2021, Technip Energies N.V. implemented a robust compliance program. The Company is committed to maintaining the highest compliance standards, processes, and controls to safeguard its businesses across all countries of operation.
Technip Energies France fully cooperated with the PNF and will continue to cooperate in accordance with its commitments under the CJIP.
The CJIP does not involve any admission of liability or guilt and Technip Energies France will not be subject to a monitorship.