New York and Paris-listed oil and gas contractor TechnipFMC is dividing into two separate traded companies.
The group, which owns offshore construction vessels, said RemainCo will be a technology and services provider, while SpinCo will be an engineering and construction (E&C) player.
"The separation would enhance both RemainCo’s and SpinCo’s focus on their respective strategies and provide improved flexibility and growth opportunities," it added.
