TechnipFMC to sell part of its stake in Technip Energies N.V.
Published by Callum O'Reilly,
TechnipFMC announces the launch of the placement of 16 million Technip Energies shares, representing ca. 9% of Technip Energies’ issued and outstanding share capital, through a private placement by way of an accelerated bookbuild offering.
Upon completion of the placement, TechnipFMC would retain 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 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 is targeted at eligible institutional investors. There will be no public offering in any country.
The final terms of the placement are expected to be announced on 30 July at the latest. Settlement for the placement is expected to take place on or around 3 August 2021.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/30072021/technipfmc-plc-to-sell-part-of-its-stake-in-technip-energies-nv/
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