Technip and FMC Technologies have signed a MoU on an all-stock merger. Key points: - Combined revenue in 2015 of $20bn, EBITDA of $2.4bn, backlog $20bn (o/w 56% in Subsea); - Combined mkt cap of $13bn (based on pre-announcement prices); - Cost synergies: c. $200m in 2018 and at least $400m cost savings since 2019 (3% of the combined cost structure), with implementation costs of $250m; - Technip’s shareholders will receive two shares for each of Technip’s, FMC’s will receive
19 May 2016
TechnipFMC: a new Subsea champion
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TechnipFMC: a new Subsea champion
Technip and FMC Technologies have signed a MoU on an all-stock merger. Key points: - Combined revenue in 2015 of $20bn, EBITDA of $2.4bn, backlog $20bn (o/w 56% in Subsea); - Combined mkt cap of $13bn (based on pre-announcement prices); - Cost synergies: c. $200m in 2018 and at least $400m cost savings since 2019 (3% of the combined cost structure), with implementation costs of $250m; - Technip’s shareholders will receive two shares for each of Technip’s, FMC’s will receive