FMC Technologies, Technip announce EU antitrust clearance

Offshore staff

HOUSTON and PARIS – FMC Technologies, Inc. and Technip have announced that the pending combination between the companies has received a clearance decision from the European Commission under Council Regulation (EC) No 139/2004.

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.

The companies have scheduled their respective shareholders’ meetings on Dec. 5, 2016, to vote on the proposed combination. Clearance decisions have previously been provided by antitrust authorities in the United States, India, Turkey, Mexico and Russia.

The pending transaction remains subject to other closing conditions, including approval of FMC Technologies and Technip shareholders, as well as certain antitrust and regulatory approvals and customary closing conditions.

The transaction is expected to close in early 2017, subject to the satisfaction of these other closing conditions.

11/23/2016 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Shell Leverages Data to Transform from Reactive to Predictive Operations

This 6-page report describes how Shell engaged in a massive project with OSIsoft to transform the...

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...