FMC Technologies Inc. and Technip S.A. have announced that the companies' respective shareholders have voted to approve the proposed business combination of Technip and FMC Technologies.
Shareholders of both companies voted in favor of resolutions required for the consummation of the proposed combination when they met separately today. FMC Technologies held a special meeting of its shareholders. Technip held an extraordinary general meeting of Technip shareholders, as well as a special meeting of Technip shareholders that hold double voting rights.
The proposed combination remains subject to certain regulatory approvals and consents, as well as other customary closing conditions. In accordance with English law, the completion date will be set by an order of the Chancery Division of the High Court of Justice expected to be issued on December 21, 2016. The transaction is expected to close in early 2017.
Global market leader in subsea systems
FMC Technologies, Inc. is the global market leader in subsea systems and a leading provider of technologies and services to the oil and gas industry. They help 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.
Project Management, Engineering and Construction
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, their 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.