Technip to acquire 100% of Global Industries

Technip has agreed to acquire the entire share capital of Global Industries valuing about €768 million ($1 billion).

Offshore staff

PARIS – Technip has agreed to acquire the entire share capital of Global Industries valuing about €768 million ($1 billion). The two companies have entered into a definitive merger agreement whereby Technip will pay $8 per Global Industries share.

Global Industries’ board of directors has unanimously approved the transaction, which is expected to close in early 2012.

Global Industries brings to Technip its subsea assets and experience including 2,300 employees operating 14 vessels, and positions in the Gulf of Mexico, Asia-Pacific, and the Middle East.

09/12/2011

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