Davis Polk is advising Technip S.A. on its combination with FMC Technologies, Inc. The combined company, which will be called TechnipFMC, would have an equity value of $17 billion based on pre-announcement share prices. Technip shareholders will receive two shares of the new company for each share of Technip, and FMC Technologies shareholders will receive one share of the new company for each share of FMC Technologies. The transaction, which is expected to close early in 2017, is subject to the approval of both Technip and FMC Technologies shareholders, regulatory approvals and consents, as well as other customary closing conditions.

Technip is a world leader in project management, engineering and construction for the energy industry. FMC Technologies is the global market leader in subsea systems and a leading provider of technologies and services to the oil and gas industry.

The Davis Polk corporate team includes partners William H. Aaronson, Jacques Naquet-Radiguet and Brian Wolfe, counsel Juliette Loget and associate Robert F. Smith. Partner Will Pearce is providing U.K. corporate advice. Partner John Banes is providing capital markets advice. Partner Jeffrey P. Crandall and associate Travis Triano are providing executive compensation advice. Partner David H. Schnabel and associate Aaron M. Weil are providing tax advice. Members of the Davis Polk team are based in the New York, Paris and London offices.

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