Brazilian antitrust authority approves FMC Technologies, Technip merger
The pending merger of FMC Technologies Inc. and Technip has received a clearance decision from the General Superintendent of the Administrative Council for Economic Defense.
HOUSTON and PARIS– The pending merger of FMC Technologies Inc. and Technip has received a clearance decision issued by the General Superintendent of the Administrative Council for Economic Defense, the Brazilian antitrust authority. The decision is subject to a 15-day waiting period.
Brazil is the last outstanding antitrust clearance required prior to closing. Clearance decisions have previously been provided by antitrust authorities inthe US, the European Union, India, Turkey, Mexico, and Russia.
The pending transaction remains subject to other closing conditions, including approval of the transaction by FMC Technologies’ and Technip’s shareholders at their respective shareholders meetings scheduled on Dec. 5, 2016, as well as certain regulatory approvals and customary closing conditions.
The transaction is expected to close in early 2017, subject to the satisfaction of these other closing conditions.