FMC, Technip pass final antitrust review with Brazilian clearance
HOUSTON and PARIS -- The pending combination of FMC Technologies and Technip has received a clearance decision from the General Superintendent of the Administrative Council for Economic Defense (CADE), the Brazilian antitrust authority. The decision is subject to a 15-day waiting period.
Brazil is the last outstanding antitrust clearance required prior to closing. Clearance decisions have previously been provided by antitrust authorities in the U.S., the European Union, India, Turkey, Mexico and Russia.
The pending transaction remains subject to other closing conditions, including approval of the transaction by FMC Technologies' and Technip's shareholders at their respective shareholders meetings on Dec. 5, 2016, as well as certain regulatory approvals and customary closing conditions.
The transaction is expected to close in early 2017.
