PARIS: TechnipFMC announced the sale of 25 million Technip Energies shares, representing around 14% of Technip Energies’ share capital at €11.10 per share, yielding total gross proceeds of €277.5 million.
The sale will be through a private placement by way of an accelerated bookbuild offering.
Concurrently with the placement, Technip Energies will purchase from TechnipFMC around 1.8 million shares (equivalent to 1% of share capital) at €11.10 per share, corresponding to the price of the placement. This purchase is separate from the Placement.
Upon completion of the Placement and the Concurrent Sale to Technip Energies, TechnipFMC retains a direct stake of ca. 31% of Technip Energies’ 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 30 April 2021.
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
Technip Energies to separate from TechnipFMC on February 12, 2021
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