TechnipFMC Sells 9.9% Stake In Technip Energies

(RTTNews) - TechnipFMC plc (FTI), an oil and gas company, announced Friday the sale of 17.6 million Technip Energies N.V. shares through a private sale transaction with HAL Investments, the Dutch investment subsidiary of HAL Holding, N.V.

The sale price is set at 11.15 euros per Share, yielding total gross proceeds of 196.2 million euros. HAL has agreed to a lock-up of 180 days for its shares in Technip Energies.

The sale represents around 9.9 percent of Technip Energies' issued and outstanding share capital.

Upon completion of the sale, TechnipFMC retains a direct stake of around 12.3 percent of Technip Energies' Share Capital.

The Sale was conducted without a public offering in any country.

The company said the settlement for the sale will take place in two tranches. HAL will first acquire 8.6 million Shares from TechnipFMC, with settlement expected to take place in the coming days. Settlement for the remaining 9 million Shares is subject to HAL obtaining customary regulatory approvals and is expected early in the fourth quarter of 2021.