TechnipFMC provided an update on the Share Purchase Agreement with Bpifrance Participations SA (“Bpifrance”) related to its recent separation into two industry-leading, independent, publicly traded companies – TechnipFMC and Technip Energies.

Bpifrance, a substantial shareholder of TechnipFMC since 2009, has agreed to an investment of $100 million in Technip Energies, which has been acquired from TechnipFMC’s retained stake in Technip Energies. The shares acquired by Bpifrance through this investment are in addition to those received through the dividend distribution made at the time of separation to all shareholders of TechnipFMC. The investment reflects Bpifrance’s commitment as a long-term reference shareholder of Technip Energies.

The sale of shares to Bpifrance reduced the Company’s ownership in Technip Energies to 82.3 million ordinary shares. TechnipFMC’s current stake in the new company was valued at $1.2 billion as of the market close on March 31, 2021.

Bpifrance had previously provided funding of $200 million for the purchase of Technip Energies’ shares from TechnipFMC. The Company will refund $100 million to Bpifrance as a result of their revised level of investment. The Company intends to significantly reduce its shareholding in Technip Energies over the next 18 months.