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Technip, FMC shareholders vote in favour of combination

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LNG Industry,

The shareholders of FMC Technologies Inc. and Technip S.A. have voted to approve the proposed business combination of Technip and FMC Technologies.

In a joint statement, the companies confirmed that their shareholders had voted in favour of resolutions required for the consummation of the proposed combination.

On 5 December 2016, FMC Technologies held a special meeting of its shareholders, while Technip held an extraordinary general meeting of its shareholders, as well as a special meeting of Technip shareholders that hold double voting rights.

The proposed combination remains subject to certain regulatory approvals and consents, as well as other customary closing conditions. In accordance with English law, the completion date will be set by an order of the Chancery Division of the High Court of Justice, expected to be issued on 21 December 2016.

The transaction is expected to close in early 2017.

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