Technip dismisses takeover talks

Technip dismisses takeover talks

French oilfield services provider Technip has dismissed allegations it has been in talks for a possible takeover of the company.

In an article on Wednesday, Reuters wrote that the French firm was exploring a sale of the company to the U.S. rival FMC Technologies. Reuters cited sources who asked not to be identified. The news agency, also citing unnamed sources, further wrote that Technip has held talks with other potential buyers as well.

However, responding to media writings, Technip, valued at around $5.8 billion, on Wednesday morning issued a statement denying any talks of similar nature were being held.

“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,” Technip said in a statement.

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