Another consolidation project is to be com[ds_preview]pleted: FMC Technologies and Technip S.A. intend to complete the transaction in two weeks.
The merger was first announced eight months ago. Now, the American subsea company FMC said in a statement, that the Chancery Division of the High Court of Justice of England and Wales has approved the Cross-Border Merger.
However, the approval by the High Court of Justice would be »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«, it was said.
FMC and Technip plan to create a new entity called TechnipFMC. In this regard, as well announced was 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, which will complete the business combination.
Paris-based Technip is active in project management, engineering and construction for the energy industry as well as subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures. FMC, located in Houston, describes itself as a leader in subsea systems.
