American subsea equipment firm FMC Technologies and French engineering company Technip jointly announced on Thursday that they expect their merger to be formally complete by January 16.
Houston-based FMC and Paris-based Technip will form a new entity called TechnipFMC.
Their planned amalgamation was first announced in May.
But because of the global scope of their interests, they had to receive approvals from numerous jurisdictions including the US, Brazil, Mexico, the European Union, India, Russia and Turkey. That process only ended recently.
The final step is for FMC Technologies to merge with a subsidiary of the new combined firm, which is expected to happen in a Delaware court on January 16 with the new firm’s shares starting to be traded in New York and Paris the following day.
