TechnipFMC PLC (NYSE: FTI), which has operational headquarters in Paris, Houston and London, announced Aug. 26 that it plans to split into two companies via a spinoff.
The spinoff is expected to be complete in the first half of 2020, about three years after Houston-based FMC Technologies Inc. and Paris-based Technip SA closed their multibillion-dollar merger in January 2017. The merger created the only fully integrated subsea provider, per TechnipFMC’s Aug. 26 press release, while building on the…