PARIS and HOUSTON, Oct. 25, 2016 /PRNewswire/ -- Technip (Euronext: TEC) and FMC Technologies, Inc. (NYSE: FTI) today announced that the companies have scheduled their respective shareholders' meetings on December 5, 2016 to vote on the proposed combination of Technip and FMC Technologies.
Technip's board of directors convened a general meeting of Technip shareholders for December 5, 2016 to vote on the proposed combination, as well as a special meeting of Technip shareholders that hold double voting rights to vote on the removal of the double voting rights, subject to the completion of the proposed combination.
FMC Technologies will hold a special meeting of shareholders on December 5, 2016 to vote on the proposed combination.
As announced on May 19, 2016, Technip and FMC Technologies intend to combine to create a global leader that will drive change by redefining the production and transformation of oil and gas.
A combined proxy statement of FMC Technologies regarding the special meeting and registration statement of TechnipFMC on Form S-4 was declared effective by the United States Securities and Exchange Commission on October 24, 2016, and a definitive combined proxy statement and prospectus will be mailed to FMC Technologies shareholders.
The cross-border merger terms entered into between Technip and TechnipFMC on October 4, 2016 following their approval by the board of directors of Technip, the reports of the board of Technip to Technip's shareholders (including the information document prepared for the purpose of the proposed cross-border merger of Technip with TechnipFMC), and the resolutions to be submitted to the Technip shareholders' general meeting and the special meeting of the Technip shareholders holding double voting rights are available on Technip's website.
In addition to the approval of Technip and FMC Technologies shareholders, the proposed combination remains subject to other closing conditions, including the conclusion of antitrust review in certain countries, other regulatory approvals, and other customary closing conditions. The combination is expected to close in early 2017, subject to the satisfaction of these conditions.
Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our close to 32,500 people are constantly offering the best solutions and most innovative technologies to meet the world's energy challenges. Present in 45 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction. Technip shares are listed on the Euronext Paris exchange, and its ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (OTCQX: TKPPY).Visit us at www.technip.com
About FMC Technologies
FMC Technologies, Inc. (NYSE: FTI) is the global market leader in subsea systems and a leading provider of technologies and services to the oil and gas industry. We help our customers overcome their most difficult challenges, such as improving shale and subsea infrastructures and operations to reduce cost, maintain uptime, and maximize oil and gas recovery. The company has approximately 14,500 employees and operates 29 major production facilities and services bases in 18 countries. Visit www.fmctechnologies.com or follow us on Twitter @FMC_Tech for more information.
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