Technip, FMC plan to complete merger Jan. 16

FMC Technologies and Technip SA plan to formally combine their companies as early as Jan. 16, according to a joint statement.

Houston-based FMC, a subsea systems provider and oil and gas services company, and French engineering and construction firm Technip will join forces to form a large, global drilling services company.

The companies announced on Dec. 21 that the High Court of Justice of England and Wales approved a cross-border European merger between Technip and TechnipFMC, which will be the name of the combined company. That merger is scheduled to occur on Jan. 16.

The union will be complete once FMC Technologies merges with a subsidiary of the combined company. FMC and Technip have filed for a certificate in a Delaware court so the second step can occur immediately after the junction in Europe.

RELATED: Shareholders approve FMC Technologies, Technip merger

The companies anticipate TechnipFMC shares will begin trading on Jan. 17 on both the Euronext exchange in Paris and the New York Stock Exchange.

FMC Technologies and Technip SA have won approval for the proposed merger from authorities in the U.S., Brazil, the European Union, India, Mexico, Russia and Turkey, and the companies’ respective shareholders. An executive board has been named for the combined company, which will have thousands of employees in dozens of countries.

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