TechnipFMC has announced the resumption of activities toward its planned separation into two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider; and Technip Energies, a leading engineering and technology player. The separation would enhance TechnipFMC’s and Technip Energies’ focus on their respective strategies and provide both improved flexibility and growth opportunities, with each company uniquely positioned to capitalize on the energy transition.

The transaction is expected to be structured as a spin-off of a majority stake in TechnipFMC’s Technip Energies segment.

Bpifrance, which has been a substantial shareholder of TechnipFMC since 2009, is committed to support the transaction and intends to invest $200 million in Technip Energies by acquiring shares from TechnipFMC’s retained stake in Technip Energies.

The separation is expected to be completed in the first quarter of 2021, subject to customary conditions and regulatory approvals.

KeyFacts Energy Industry Directory: TechnipFMC