UK: Company Update Technip FMC Puts ‘Planned Separation’ on Hold
Amidst the coronavirus pandemic and unfavourable market conditions, Technip FMC has decided not to go ahead with its planned separation into two different entities—Technip FMC and Technip Energies—until markets recover.
London/UK – Market conditions have changed materially due to the Covid-19 pandemic, the sharp decline in commodity prices, and the heightened volatility in global equity markets. The impacts of these events have created a market environment that is not currently conducive to the company’s planned separation into Technip FMC and Technip Energies.
The company reiterates that the strategic rationale for the separation remains unchanged. The firm is committed to the transaction and continues its preparations to ensure that the two companies are ready for separation when the markets sufficiently recover.