HOUSTON and PARIS, Dec. 1,
2016 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI)
and Technip (Euronext: TEC) today announced that the
pending combination between the companies has received a
clearance decision issued by the General Superintendent of the
Administrative Council for Economic Defense (CADE), the Brazilian
antitrust authority. The decision is subject to a 15-day waiting
period.
As previously announced on May 19,
2016, Technip and FMC Technologies will combine to
create a global leader that will drive change by redefining the
production and transformation of oil and gas. Brazil is the
last outstanding antitrust clearance required prior to closing.
Clearance decisions have previously been provided by antitrust
authorities in the United States,
the European Union, India,
Turkey, Mexico and Russia. The pending transaction remains
subject to other closing conditions, including approval of the
transaction by FMC Technologies' and Technip's shareholders at
their respective shareholders meetings scheduled on December 5, 2016, as well as certain regulatory
approvals and customary closing conditions. The transaction is
expected to close in early 2017, subject to the satisfaction of
these other closing conditions.
About Technip
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. Present in 45 countries,
Technip has state-of-the-art industrial assets on all continents
and operates a fleet of specialized vessels for pipeline
installation and subsea construction. Technip shares are listed on
the Euronext Paris exchange, and its ADR is traded in the US on the
OTCQX marketplace as an American Depositary Receipt (OTCQX:TKPPY).
Visit us at www.technip.com.
About FMC Technologies
FMC Technologies, Inc. (NYSE: FTI) is the global market leader in
subsea systems and a leading provider of technologies and services
to the oil and gas industry. We help our customers overcome their
most difficult challenges, such as improving shale and subsea
infrastructures and operations to reduce cost, maintain uptime, and
maximize oil and gas recovery. The company has approximately 14,500
employees and operates 29 major production facilities and services
bases in 18 countries. Visit www.fmctechnologies.com or follow us
on Twitter @FMC_Tech for more information.
For more information, contact
For
Technip
|
For FMC
Technologies
|
Investors
Aurélia
Baudey-Vignaud
P: +33 1 85 67 43
81
abaudeyvignaud@technip.com
Elodie
Robbe-Mouillot
P: +33 1 85 67 43
86
erobbemouillot@technip.com
|
Investors
Matt
Seinsheimer
P: +1
281.260.3665
investorrelations@fmcti.com
|
Media
Christophe
Bélorgeot
P: +33 (0) 1 47 78 39
92
cbelorgeot@technip.com
Laure
Montcel
P: +33 1 49 01
87 81
lmontcel@technip.com
|
Media
Lisa
Albiston
P: +1
281.610-9076
media.request@fmcti.com
Lisa Adams
P: +1
281.405.4659
media.request@fmcti.com
|
Important Information for Investors and
Securityholders
Forward-Looking Statements
This communication contains "forward-looking statements." All
statements other than statements of historical fact contained in
this report are forward-looking statements within the meaning of
Section 27A of the United States Securities Act of 1933, as amended
(the "Securities Act"), and Section 21E of the United States
Securities Exchange Act of 1934, as amended (the "Exchange Act").
Forward-looking statements usually relate to future events and
anticipated revenues, earnings, cash flows or other aspects of our
operations or operating results. Forward-looking statements are
often identified by the words "believe," "expect," "anticipate,"
"plan," "intend," "foresee," "should," "would," "could," "may,"
"estimate," "outlook" and similar expressions, including the
negative thereof. The absence of these words, however, does not
mean that the statements are not forward-looking. These
forward-looking statements are based on our current expectations,
beliefs and assumptions concerning future developments and business
conditions and their potential effect on us. While management
believes that these forward-looking statements are reasonable as
and when made, there can be no assurance that future developments
affecting us will be those that we anticipate.
Factors that could cause actual results to differ materially
from those in the forward-looking statements include failure to
obtain applicable regulatory or stockholder approvals in a timely
manner or otherwise; failure to satisfy other closing conditions to
the proposed transactions; failure to obtain favorable opinions
from counsel for each company to the effect of how TechnipFMC
Limited (to be renamed TechnipFMC plc) ("TechnipFMC") should be
treated for U.S. tax purposes as a result of the proposed
transaction; risks associated with tax liabilities, or changes in
U.S. federal or international tax laws or interpretations to which
they are subject, including the risk that the Internal Revenue
Service disagrees that TechnipFMC is a foreign corporation for U.S.
federal tax purposes; risks that the new businesses will not be
integrated successfully or that the combined companies will not
realize estimated cost savings, value of certain tax assets,
synergies and growth or that such benefits may take longer to
realize than expected; failure to realize anticipated benefits of
the combined operations; risks relating to unanticipated costs of
integration; reductions in client spending or a slowdown in client
payments; unanticipated changes relating to competitive factors in
the companies' industries; ability to hire and retain key
personnel; ability to successfully integrate the companies'
businesses; the potential impact of announcement or consummation of
the proposed transaction on relationships with third parties,
including clients, employees and competitors; ability to attract
new clients and retain existing clients in the manner anticipated;
reliance on and integration of information technology systems;
changes in legislation or governmental regulations affecting the
companies; international, national or local economic, social or
political conditions that could adversely affect the companies or
their clients; conditions in the credit markets; risks associated
with assumptions the parties make in connection with the parties'
critical accounting estimates and legal proceedings; and the
parties' international operations, which are subject to the risks
of currency fluctuations and foreign exchange controls.
All of our forward-looking statements involve risks and
uncertainties (some of which are significant or beyond our control)
and assumptions that could cause actual results to differ
materially from our historical experience and our present
expectations or projections. You should carefully consider the
foregoing factors and the other risks and uncertainties that affect
the parties' businesses, including those described in FMC
Technologies' ("FMC Technologies") Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and
other documents filed from time to time by FMC Technologies and
TechnipFMC with the United States Securities and Exchange
Commission (the "SEC") and those described in Technip S.A.'s
("Technip") annual reports, registration documents and other
documents filed from time to time with the French financial markets
regulator (Autorité des marchés financiers or the "AMF"). We
wish to caution you not to place undue reliance on any
forward-looking statements, which speak only as of the date hereof.
We undertake no obligation to publicly update or revise any of our
forward-looking statements after the date they are made, whether as
a result of new information, future events or otherwise, except to
the extent required by law.
No Offer or Solicitation
This communication is not intended to and does not constitute an
offer to sell or the solicitation of an offer to subscribe for or
buy or an invitation to purchase or subscribe for any securities or
the solicitation of any vote in any jurisdiction pursuant to the
proposed transactions or otherwise, nor shall there be any sale,
issuance or transfer of securities in any jurisdiction in
contravention of applicable law. No offer of securities shall be
made except by means of a prospectus meeting the requirements of
Section 10 of the Securities Act and applicable European
regulations. Subject to certain exceptions to be approved by the
relevant regulators or certain facts to be ascertained, the public
offer will not be made directly or indirectly, in or into any
jurisdiction where to do so would constitute a violation of the
laws of such jurisdiction, or by use of the mails or by any means
or instrumentality (including without limitation, facsimile
transmission, telephone and the internet) of interstate or foreign
commerce, or any facility of a national securities exchange, of any
such jurisdiction.
Important Additional Information Has Been Filed with the SEC
TechnipFMC has filed with the SEC a registration statement on
Form S-4, which includes a proxy statement of FMC Technologies that
also constitutes a prospectus of TechnipFMC (the "proxy
statement/prospectus"). The registration statement on Form S-4 was
declared effective by the SEC on October 24,
2016 and a definitive proxy statement/prospectus has been
delivered as required by applicable law. INVESTORS AND
STOCKHOLDERS ARE URGED TO CAREFULLY READ THE DEFINITIVE PROXY
STATEMENT/PROSPECTUS, AND OTHER RELEVANT DOCUMENTS FILED OR TO BE
FILED WITH THE SEC, IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT
FMC TECHNOLOGIES, TECHNIP, TECHNIPFMC, THE PROPOSED TRANSACTIONS
AND RELATED MATTERS. Investors and stockholders can obtain free
copies of the definitive proxy statement/prospectus and other
documents filed with the SEC by the parties through the website
maintained by the SEC at www.sec.gov. In addition, investors and
stockholders can obtain free copies of the definitive proxy
statement/prospectus and other documents filed with the SEC on FMC
Technologies' website at www.fmctechnologies.com (for documents
filed with the SEC by FMC Technologies) or on Technip's website
at www.technip.com (for documents filed with the SEC by
Technip).
Important Additional Information Has Been Made Available in an
Information Document
Technip has made available an information document in connection
with the Technip meeting of stockholders called to approve the
proposed transaction (the "Information Document"). INVESTORS AND
STOCKHOLDERS ARE URGED TO CAREFULLY READ THE INFORMATION DOCUMENT,
AND OTHER RELEVANT DOCUMENTS PUBLISHED OR TO BE PUBLISHED ON THE
TECHNIP WEBSITE, IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL
CONTAIN IMPORTANT INFORMATION ABOUT FMC TECHNOLOGIES, TECHNIP,
TECHNIPFMC, THE PROPOSED TRANSACTIONS AND RELATED MATTERS.
Investors and stockholders can obtain free copies of the
Information Document from Technip on its website at
www.technip.com.
Important Additional Information Will be Made Available in a
Prospectus Prepared in Accordance with the EU Prospectus
Directive
TechnipFMC will make publicly available a prospectus, prepared
in accordance with the EU Prospectus Directive 2003/71/EC, with
respect to the issuance of new shares as a result of the proposed
transaction and their admission to trading on the regulated market
of Euronext Paris (including any supplement thereto, the "Admission
Prospectus"). INVESTORS AND STOCKHOLDERS ARE URGED TO CAREFULLY
READ THE ADMISSION PROSPECTUS, AND OTHER RELEVANT DOCUMENTS, IN
THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT FMC TECHNOLOGIES, TECHNIP, TECHNIPFMC,
THE PROPOSED TRANSACTIONS AND RELATED MATTERS. Investors and
stockholders will be able to obtain free copies of the Admission
Prospectus from TechnipFMC when available.
Participants in the Solicitation
FMC Technologies, Technip, TechnipFMC and their respective
directors and executive officers may be deemed to be participants
in the solicitation of proxies from the stockholders of FMC
Technologies and Technip, respectively, in respect of the proposed
transactions contemplated by the definitive proxy
statement/prospectus and the Information Document. Information
regarding the persons who are, under the rules of the SEC,
participants in the solicitation of the stockholders of FMC
Technologies and Technip, respectively, in connection with the
proposed transactions, including a description of their direct or
indirect interests, by security holdings or otherwise, is set forth
in the definitive proxy statement/prospectus filed with the SEC.
Information regarding FMC Technologies' directors and executive
officers is contained in FMC Technologies' Annual Report on Form
10-K for the year ended December 31,
2015 and its Proxy Statement on Schedule 14A, dated
March 25, 2016, which are filed with
the SEC and can be obtained free of charge from the sources
indicated above. Information regarding Technip's directors and
executive officers is contained in Technip's Annual Report for the
year ended December 31, 2015 filed
with the AMF and can be obtained free of charge from the sources
indicated above.
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SOURCE FMC Technologies, Inc.