TechnipFMC employees. Credit: Copyright TechnipFMC.

Dutch investment fund HAL is set to acquire 9.9% stake in French oil and gas services provider Technip Energies.

As agreed, HAL Investments, a subsidiary of HAL, will acquire a total of 17.6 million Technip Energies shares from TechnipFMC.

Related Company Profiles

View all

The sale price of the shares was set at €11.15 per share, which values the transaction at $232.75m (€196.2m).

The transaction will be settled in two tranches. Initially, HAL will purchase 8.6 million shares, which corresponds to a 4.9% stake in Technip Energies. The settlement is expected to take place in the coming days.

The acquisition of the remaining stake is subject to HAL securing customary regulatory approvals. The transfer is expected to be finalised in the fourth quarter of this year.

HAL has also agreed to a lock-up of 180 days for its ‘to be acquired’ shares in Technip Energies.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Once the private sale transaction completes, TechnipFMC will hold around 12.3% stake in Technip Energies.

Headquartered in Paris, France, Technip Energies is an engineering and technology company primarily serving energy and downstream markets.

It has around 15,000 employees with operations in 34 countries.

Notably, TechnipFMC spun off Technip Energies earlier this year as an independent publicly traded company.

The move was undertaken to provide the two companies with specific customer bases and growth opportunities.

Since its spin off, TechnipFMC has been gradually reducing its stake in Technip Energies.

Earlier this year, TechnipFMC and Halliburton were selected by ExxonMobil to provide the fibre optic solution for the $9bn Payara field development project offshore Guyana.