TechnipFMC has participated in giant projects such as the construction of Yamal LNG in Russia. (© Total)
The oil services company has just announced the resumption of its plan to split into two companies, initially announced in August 2019. Investors appreciate this. Discover our analysis and our stock market advice on TechnipFMC stock.
Despite the crisis, despite the departure of Catherine MacGregor at Engie, TechnipFMC did not bury its plan to split into two companies.
The leaders even plan to complete it before the end of the first quarter. In principle, the operation is in line with what was announced in August 2019.
The group will be split into two. On the one hand, TechnipFMC, which will keep the activities of aid to oil production and underwater infrastructure. On the other hand Technip Energies, specializing in engineering and construction at sea and on land (oil platform, refining and chemical plant, etc.).
TechnipFMC remains a shareholder
The two entities will be listed on the Paris Stock Exchange but only Technip Energies, registered in the Netherlands, will remain eligible for the stock savings plan (based in London, TechnipFMC will have to leave your PEAs by next September due to Brexit) .
Contrary to what could be anticipated in 2019, TechnipFMC will however remain a Technip Energies shareholder with 49.9%. The remainder, or 50.1%, will be held by the current shareholders of the oil services company. The parent company will gradually sell its stake, a first step being planned 30 days after the split with the sale of a block worth $ 200 million to Bpifrance.
The resumption of this operation