TechnipFMC Announces Agreement To Sell Measurement Solutions Business For $205M In Cash
Portfolio Pulse from Benzinga Newsdesk
TechnipFMC plc (NYSE:FTI) has agreed to sell its Measurement Solutions business to One Equity Partners for $205 million in cash. The Measurement Solutions business is part of TechnipFMC's Surface Technologies segment and includes engineering and manufacturing locations in North America and Europe. The sale is in line with TechnipFMC's strategy to focus on core products, technologies, and integrated solutions for clients. The transaction is expected to close in the first half of 2024, subject to customary closing conditions.
November 20, 2023 | 9:15 pm
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TechnipFMC is selling its Measurement Solutions business to One Equity Partners for $205 million, which is expected to enhance its focus on core products and services.
The sale of the Measurement Solutions business is likely to be viewed positively by investors as it aligns with TechnipFMC's strategy to concentrate on its core competencies. The cash infusion from the sale could potentially be used to strengthen the company's balance sheet or reinvest in its main business areas, which may lead to a short-term positive impact on the stock price.
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