After US company FMC Technologies, Inc. merged with French rival Technip SA almost three years ago in a multibillion-dollar deal, global oil and gas company TechnipFMC Plc (FTI) announced this week that it will be splitting into two entities and Spinning off its Onshore/Offshore business by the first half of 2020.
- Global Oil Services Company, FTI, Jumps +5% on Break-Up News
- SpinCo: One of the Largest Pure-Play Engineering and Construction Companies
- Company DNA Includes Spinoffs / Spinoff Following the LNG Trend
- Revenue Split 2018: 51% (RemainCo) & 49% (SpinCo)
- Spinoff Expected to be Completed By 1H 2020 / FTI Enters the Upcoming US Spinoffs Calendar