FMC Technologies and Technip have announced that the pending combination between the companies has received a clearance decision from the European Commission under Council Regulation (EC) No 139/2004.

As previously announced, Technip and FMC Technologies will combine to create a global leader that will drive change by redefining the production and transformation of oil and gas. The companies have scheduled their respective shareholders’ meetings on Dec. 5, 2016, to vote on the proposed combination.

Clearance decisions have previously been provided by antitrust authorities in the U.S., India, Turkey, Mexico and Russia. The pending transaction remains subject to other closing conditions, including approval of FMC Technologies and Technip shareholders, as well as certain antitrust and regulatory approvals and customary closing conditions.

The transaction is expected to close in early 2017.

Source: www.worldoil.com

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