TechnipFMC announces sale of 9% stake in Technip Energies
03-08-2021 08:56:00 | by: Pie Kamau | hits: 969 | Tags:

TechnipFMC announced the sale of 16 million Technip Energies shares (the “Shares”), representing ca. 9% of Technip Energies’ issued and outstanding share capital, through a private placement by way of an accelerated bookbuild offering (the “Placement”).

The sale price of the Shares in the Placement is set at €11.20 per Share, yielding total gross proceeds of €179.2 million. Upon completion of the Placement, TechnipFMC retains a direct stake of ca. 22% of Technip Energies’ issued and outstanding share capital.

TechnipFMC has agreed to a 60-day lock-up for its remaining shares in Technip Energies, subject to waiver from the Joint Global Coordinators involved in the Placement and certain other customary exceptions, including transfer of shares to a subsidiary, granting and enforcement of security interests in connection with financing and derivative transactions and tender into any public tender offer for all or part of the shares.

The Placement was conducted without a public offering in any country and was open to eligible institutional investors. Settlement for the Placement is expected to take place on or around August 3, 2021.

www.technipfmc.com