EuropeFinance and InsuranceOffshore

TechnipFMC to delist from Euronext Paris

Offshore engineering giant TechnipFMC has decided to delist from Euronext Paris after selling approximately 5% of its holding in spin-off firm Technip Energies.

The company said that a single listing on the New York Stock Exchange (NYSE) is more consistent with its strategic refocus and shareholder base, and allows for better alignment with its most appropriate peer set.

Following the partial spin-off of Technip Energies and the progressive selldown of the remaining ownership stake, TechnipFMC has refocused as a pure-play technology and services provider to the traditional and new energies industries. The company will retain a direct stake of approximately 7% of Technip Energies’ share capital.

The holders of TechnipFMC shares traded on Euronext and held through the facilities of Euroclear France will have the option to keep their shares, which they will be able to trade on Euronext Paris until February 17, 2022, and on the NYSE thereafter or participate in a voluntary sales facility until January 31.

Adis Ajdin

Adis is an experienced news reporter with a backgroud in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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