Energy transition company Technip Energies has agreed to buy €20 million (approx $24.2 M) equivalent of its own shares from TechnipFMC.
In February 2021, TechnipFMC and Technip Energies were separated as two independent, publicly traded companies.
Technip Energies deals in LNG, hydrogen, and ethylene as well as blue and green hydrogen, sustainable chemistry, and CO2 management, while TechnipFMC moved forward in subsea and surface technologies.
TechnipFMC will announce the price per share in its separate accelerated book-building process.
Technip Energies is exercising its rights under the Separation and Distribution Agreement in acquiring these shares.
After the acquisition, TechnipFMC’s stake in Technip Energies will be approximately 31 per cent.