TechnipFMC completes spin-off

Source: press release, 15 February 2021

Chairman and CEO of TechnipFMC, Doug Pferdehirt
Chairman and CEO of TechnipFMC, Doug Pferdehirt (photo: TechnipFMC)

TechnipFMC has announced the completion of its spin-off transaction to create two independent, publicly traded companies, TechnipFMC and Technip Energies.

In connection with the separation, the Technip Energies technical reference price was set at EUR 9.00 ahead of its direct listing on the Euronext Paris Exchange where it will trade under the symbol “TE”.

Doug Pferdehirt, Chairman and CEO of TechnipFMC, states, “I am delighted to announce the successful completion of the separation transaction. As the market leader and industry’s only fully integrated pure-play, we are uniquely positioned to transform our clients’ project economics, helping them to unlock traditional and new energy resources while reducing carbon intensity and supporting their energy transition ambitions.”

Technip Energies has announced the appointment of a new member of its Board of Directors, Simon Eyers, effective February 16, 2021. Eyers previously served as Managing Director of Warburg Pincus International from 2012 to 2018 focusing on energy investments, and as a Senior Advisor until the end of 2020 after retiring from his full-time role. In addition to being a founding partner of 4D Global Energy Advisors, a private equity firm based in Paris specialising in the energy sector, Eyers also held executive leadership roles in various technology ventures and worked 13 years in energy investment banking at SG Warburg & Co, Goldman Sachs and Credit Suisse First Boston Europe.

“We are pleased to welcome Simon Eyers to the Technip Energies Board,” says Arnaud Pieton, CEO of Technip Energies. “Simon’s deep understanding of global energy markets and strong experience with the development of new technologies will be invaluable as we grow our business in the future.”

Note: The technical reference price will be used solely for the purpose of setting reservation thresholds for the trading session on Euronext Paris on February 16, 2021 and the determination of the Technip Energies stock price performance for the day. The technical reference price shall have no bearing on the price at which the Technip Energies stock may trade.