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TechnipFMC to split into 2 publicly traded companies

Aug 27, 2019 - SNL Energy Finance Daily
Board and Executive Moves-Company Splits/Spinoffs

Oilfield service provider TechnipFMC PLC said its board of directors approved a plan to separate into two publicly traded companies called RemainCo. and SpinCo., according to an Aug. 26 release.

The transaction will be structured as a spinoff of Technip's onshore/offshore segment and will be headquartered in Paris.

SpinCo. will be an engineering and construction pure-play firm with approximately 15,000 employees. The firm will be incorporated in the Netherlands, headquartered in Pari...