Bpifrance launched the placement of a 2% stake in Technip Energies (3.57 million shares) yesterday evening at 39 EUR per share. The proceeds from the transaction amount to 139 million euros.
Following this transaction, the state-owned investment bank will see its holding in the engineering firm fall to approximately 8%. Morgan Stanley and Société Générale acted as joint bookrunners for the deal. While the final execution price was not officially disclosed, such placements are typically carried out at a discount to the last closing price to ensure market absorption. In pre-market trading, Technip shares were down just over 2% at around 39.30 EUR.
Bpifrance remains the second-largest shareholder in Technip Energies, trailing only HAL Investments.
Technip Energies N.V. is an Engineering and Technology company specialized in providing projects, technologies, products and services on energy infrastructure both onshore and offshore (LNG, downstream, sustainable chemistry, hydrogen, CO2 management and marine infrastructure). Net sales break down by activity as follows:
- project delivery (75%);
- technology integration, equipment sale and services (25%).
Net sales are distributed geographically as follows: Europe and Central Asia (14.9%), Africa and the Middle East (58.9%), the Americas (18.4%) and Asia/Pacific (7.8%).
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