The Firm is advising financing sources, led by J.P. Morgan, providing $1.85 billion of committed debt financing for TechnipFMC plc (“TechnipFMC”) in connection with the announced spinoff of 50.1% of the outstanding shares of Technip Energies. The spinoff transaction will create two industry-leading, independent, publicly traded companies: TechnipFMC, a fully integrated technology and services provider, and Technip Energies, a leading engineering and technology player.
With approximately 21,000 employees, TechnipFMC would be the largest diversified pure play in the industry. TechnipFMC’s role will be to support clients in the delivery of unique, integrated production solutions. TechnipFMC will continue to transform the industry through its pioneering integrated delivery model—iEPCI™, technology leadership and digital innovation. TechnipFMC will remain incorporated in the United Kingdom with headquarters in Houston and listings on both the NYSE and Euronext Paris.
The Simpson Thacher team includes Brian Rosenzweig, Art Robinson, Ben Heriaud, Matt Hart, Karen McClendon and Maggie Selbe (Capital Markets); Erland Modesto, Robert Rabalais, Brandon Barton and Jason Lawrence (Banking and Credit); Drew Purcell, Jaqueline Clinton and Zachary Fialkow (U.S. Tax); and Yash Rupal and Ellie Verran (U.K. Tax).