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Shareholders approve Technip/FMC Technologies business combination

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World Pipelines,

FMC Technologies Inc. and Technip S.A. have announced that the companies’ respective shareholders have voted to approve a proposed business combination of Technip and FMC Technologies.

Shareholders of both companies voted in favour of resolutions required for the consummation of the proposed combination. The shareholders of each company met separately.

While FMC Technologies held a meeting for its shareholders, Technip held a general meeting of Technip shareholders, as well as a meeting of its shareholders that hold double voting rights.

The proposed combination remains subject to both regulatory approvals and consents, as well as other customary closing conditions. In accordance to English law, the completion date will be set by an order of the Chancery Division of the High Court of Justice. It is expected to be issued on 21 December and the transaction is expected to close in early 2017.

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