TechnipFMC To Sell About 14% Stake In Technip Energies

(RTTNews) - TechnipFMC (FTI) said it agreed to sell 25 million Technip Energies shares, which represents about 14% of Technip Energies' share capital, through a private placement by way of an accelerated bookbuild offering. The sale price of the Shares in the Placement is set at 11.10 euros per share, yielding total gross proceeds of 277.5 million euros.

Meanwhile, Technip Energies will purchase from TechnipFMC about 1.8 million shares, which is equivalent to 1% of share capital, at 11.10 euros per share, corresponding to the price of the Placement.

Upon completion of the Placement and the Concurrent Sale to Technip Energies, TechnipFMC retains a direct stake of 31% of Technip Energies' share capital.

TechnipFMC has agreed to a 60-day lock-up for its remaining shares in Technip Energies.

Settlement for the Placement is expected to take place on or around 30 April 2021.