Davis Polk advised Technip S.A. on the closing of its combination with FMC Technologies, Inc. The transaction to form TechnipFMC plc, the new U.K. combined entity, was implemented through a European cross-border merger and a U.S. reverse triangular merger. Technip shareholders received two shares of TechnipFMC for each share of Technip, and FMC Technologies shareholders received one share of TechnipFMC for each share of FMC Technologies.

TechnipFMC has an equity value of $17 billion (based on combined share prices as of January 6, 2017) and its shares are listed and traded on the New York Stock Exchange (NYSE) and Euronext Paris. TechnipFMC is a new global leader in subsea, onshore/offshore and surface projects. 

The Davis Polk U.S., French and U.K. corporate team included partners William H. Aaronson, Jacques Naquet-Radiguet, Will Pearce and Brian Wolfe, counsel Juliette Loget, European counsel Simon J. Little and associate Robert F. Smith. Partners John Banes and Leo Borchardt and associate Ida Araya-Brumskine provided U.S. capital markets advice. Partner David H. Schnabel provided U.S. tax law advice. Partner Jonathan Cooklin and associate Dominic Foulkes provided U.K. tax advice. Members of the Davis Polk team are based in the New York, Paris, London and Washington DC offices.

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