TechnipFMC: coronavirus affects planned separation
(CercleFinance.com) - TechnipFMC says that the impact of events regarding the coronavirus outbreak, which has "created a market environment that is not currently conducive to the Company's planned separation into TechnipFMC and Technip Energies".
"Market conditions have changed materially due to the COVID-19 pandemic, the sharp decline in commodity prices, and the heightened volatility in global equity markets," the oil services group said.
However, confirming that the strategic justification for the split remains unchanged, it remains "committed to the transaction and continues its preparations to ensure that the two companies are ready for separation when the markets sufficiently recover".
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