TechnipFMC: plans to split into two companies
(CercleFinance.com) - TechnipFMC has announced that its board of directors has approved a plan to split the group into two separately listed companies, which will be able to "focus on their respective strategies and provide improved flexibility and growth opportunities.
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On the one hand, this will be "a fully-integrated technology and services provider, continuing to drive energy development" and on the other hand "a leading engineering and construction (E&C) player, poised to capitalize on the global energy transition".
The transaction is expected to be structured as a split of the onshore/offshore segment, which will be headquartered in Paris. The separation should be finalised in the first half of 2020, subject to customary conditions and regulatory approvals.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
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On the one hand, this will be "a fully-integrated technology and services provider, continuing to drive energy development" and on the other hand "a leading engineering and construction (E&C) player, poised to capitalize on the global energy transition".
The transaction is expected to be structured as a split of the onshore/offshore segment, which will be headquartered in Paris. The separation should be finalised in the first half of 2020, subject to customary conditions and regulatory approvals.
Copyright (c) 2019 CercleFinance.com. All rights reserved.