May 31, 2021CCI Approves Additional Acquisition of 11.82 to 17.25% of Outstanding Shares of Technip Energies B.V. by Bpifrance Participations S.A.
On February 24, 2021, CCI approved the additional acquisition of minimum 11.82% and a maximum 17.25% of the outstanding shares of Technip Energies B.V. (‘Technip’) by Bpifrance Participations S.A. (‘Bpifrance’). The proposed transaction would increase Bpifrance’s stake in Technip to 14.07 to 20%.[1]
Bpifrance is a limited liability company that invests, directly and indirectly, in various companies, using either its own funds or third parties’ funds to stimulate and consolidate the national economic base. It does not directly have any presence or undertakes any business in India.
Technip is a private limited liability company belonging to the TechnipFMC plc group. Technip is an engineering and technology company for the energy transition that provides design and project development services.
CCI did not find any horizontal or vertical overlaps between the business activities of Bpifrance and Technip. Further, none of the products or services of either of two are key products/ essential services for each other’s business. Based on this, CCI approved the combination.
[1] Combination Registration No.C-2021/01/809