Technip Says It's Not in Talks on Any Strategic Transactions

Technip SA said it’s not in merger talks after Bloomberg and Reuters reported that Europe’s largest oilfield-services provider was discussing a potential tie-up with U.S. peer FMC Technologies Inc.

“Following recent press articles with respect to possible strategic transactions involving Technip, we state that there are no ongoing discussions with respect to such transactions,” Paris-based Technip said Thursday in a statement.

Bloomberg reported Wednesday that Technip and Houston-based FMC were in negotiations, citing people with knowledge of the talks. No final deal had been reached and discussions could still fall apart, the people said, asking not to be identified because the matter was confidential.

The companies in March announced a joint venture for offshore fields, called Forsys Subsea, as they sought to cut costs amid slumping oil prices.

Technip rose 1.5 percent to 46.05 euros in Paris trading as of 9:18 a.m. local time on Thursday, after gaining 3.6 percent the day before. FMC climbed 2.3 percent to $31.43 Wednesday in New York.

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