August 26, 2019 / 4:13 PM / 6 months ago

Oil services firm TechnipFMC to split into two publicly traded companies

Aug 26 (Reuters) - Franco-American oil services firm TechnipFMC Plc said on Monday it would separate its technology and services business and its engineering and construction business into two publicly traded companies.

The company, which had a market capitalization of $10.31 billion as of Friday’s close, said the deal is expected to be structured as a spinoff of its onshore/offshore segment, which manages large engineering, procurement, and construction projects. (Reporting by Arathy S Nair in Bengaluru; Editing by Maju Samuel)

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