Benzinga | Jan 11, 2022 04:13AM EST

Technip Energies to Purchase 1.8M of Its Own Shares From TechnipFMC for 13.15/Share.

Technip Energies (PARIS:TE) (the "Company"), a leading Engineering & Technology company for the Energy Transition, today announces that it has agreed to acquire 1.8 million of its own ordinary shares from TechnipFMC plc. The Company's agreement to purchase these shares is part of TechnipFMC's announced sell-down of its stake in the Company through a private sale transaction (the "Sale") which also included Bpifrance Participations SA and HAL Investments, the Dutch investment subsidiary of HAL Holding N.V., each agreeing to purchase 3.6 million of the Company's ordinary shares.

The purchase price of the shares subject to the Sale is set at 13.15 per share. The settlement for the Sale is expected to take place on or around January 14, 2022.

Upon completion of the Sale, TechnipFMC's stake in the Company will be reduced to approximately 7%.