FMC Technologies, Technip announce EU antitrust clearance
FMC Technologies, Inc. and Technip have announced that the pending combination between the companies has received a clearance decision from the European Commission.
HOUSTON and PARIS –FMC Technologies, Inc. and Technip have announced that the pending combination between the companies has received a clearance decision from the European Commission under Council Regulation (EC) No 139/2004.
Aspreviously announced on May 19, 2016, Technip and FMC Technologies will combine to create a global leader that will drive change by redefining the production and transformation of oil and gas.
The companies have scheduled their respective shareholders’ meetings on Dec. 5, 2016, to vote on the proposed combination. Clearance decisions have previously been provided by antitrust authorities in theUnited States, India, Turkey, Mexico and Russia.
The pending transaction remains subject to other closing conditions, including approval of FMC Technologies and Technip shareholders, as well as certain antitrust and regulatory approvals and customary closing conditions.
The transaction is expected to close in early 2017, subject to the satisfaction of these other closing conditions.