TechnipFMC Completes Share Purchase Agreement with Bpifrance
March 31 2021 - 4:15PM
Business Wire
Regulatory News:
TechnipFMC (NYSE: FTI) (PARIS: FTI) today provided an update on
the Share Purchase Agreement with Bpifrance Participations SA
(“Bpifrance”) related to its recent separation into two
industry-leading, independent, publicly traded companies –
TechnipFMC and Technip Energies.
Bpifrance, a substantial shareholder of TechnipFMC since 2009,
has agreed to an investment of $100 million in Technip Energies,
which has been acquired from TechnipFMC’s retained stake in Technip
Energies. The shares acquired by Bpifrance through this investment
are in addition to those received through the dividend distribution
made at the time of separation to all shareholders of TechnipFMC.
The investment reflects Bpifrance’s commitment as a long-term
reference shareholder of Technip Energies.
The sale of shares to Bpifrance reduced the Company’s ownership
in Technip Energies to 82.3 million ordinary shares. TechnipFMC’s
current stake in the new company was valued at $1.2 billion as of
the market close on March 31, 2021.
Bpifrance had previously provided funding of $200 million for
the purchase of Technip Energies’ shares from TechnipFMC. The
Company will refund $100 million to Bpifrance as a result of their
revised level of investment. The Company intends to significantly
reduce its shareholding in Technip Energies over the next 18
months.
Important Information for Investors and
Securityholders
Forward-looking statements
This release contains "forward-looking statements" as defined in
Section 27A of the United States Securities Act of 1933, as
amended, and Section 21E of the United States Securities Exchange
Act of 1934, as amended. The word “intend” and other similar
expressions are intended to identify forward-looking statements,
which are generally not historical in nature. Such forward-looking
statements involve significant risks, uncertainties and assumptions
that could cause actual results to differ materially from our
historical experience and our present expectations or projections.
For information regarding known material factors that could cause
actual results to differ from projected results, please see our
risk factors set forth in our filings with the United States
Securities and Exchange Commission, which include our Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current
Reports on Form 8-K. We 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.
###
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional
and new energy industries, delivering fully integrated projects,
products, and services.
With our proprietary technologies and comprehensive solutions,
we are transforming our clients’ project economics, helping them
unlock new possibilities to develop energy resources while reducing
carbon intensity and supporting their energy transition
ambitions.
Organized in two business segments – Subsea and Surface
Technologies – we will continue to advance the industry with our
pioneering integrated ecosystems (such as iEPCI™, iFEED™ and
iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a
commitment to our clients’ success, and a culture of strong
execution, purposeful innovation, and challenging industry
conventions.
TechnipFMC uses its website as a channel of distribution of
material company information. To learn more about how we are
driving change in the industry, go to www.TechnipFMC.com and follow
us on Twitter @TechnipFMC.
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