There are opportunities even in the current environment.
by Barbara Napolitano (BonelliErede)
Last month, engineering and construction giant Technip announced a share-for-share merger with US-based FMC Technologies – a union which combines revenues of $20 billion.
The merger brings together the engineering and construction expertise of Paris-based Technip with the underwater equipment and systems expertise of Houston-based FMC to create a new leader in global oil services.
The new company resulting from the merger will be listed on both the New York and Paris stock exchanges. Following the recent trend of oil services groups taking advantage of the UK’s corporation tax rate (which stands at roughly 20%), it will be based in London, with operational headquarters in Paris and Houston.