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TechnipFMC finalizes Plexus deal

first_imgPlexus Holdings, an oil and gas engineering services business and owner of the POS-GRIP friction-grip method of wellhead engineering, has completed the sale of its wellhead business for jack-up applications to TechnipFMC.The deal was announced in October last year. Completion of the disposal follows the signing of a conditional business purchase agreement by Plexus, Plexus’ subsidiary Plexus Ocean Systems Limited (POSL) and FMC Technologies Limited (TFMC), a subsidiary of TechnipFMC, an oil and gas service and equipment companies.Shareholder approval of the disposal was obtained on November 6, 2017.In addition to completion of the sale of its wellhead exploration equipment and services business for jack-up applications and the licensing of certain intellectual property to TFMC, Plexus on Thursday also announced the receipt of an initial net consideration of £14.2 million ($20.3M).An additional sum of up to £27.5 million is payable dependent on the future performance of the Jack-up Business during a three-year earn-out period, Plexus said.Plexus also announced that Plexus, POSL and TFMC have entered into a collaboration agreement which establishes a framework for the development of existing POS-GRIP IP for applications outside of the jack-up exploration wellhead application. The agreement provides for the formation of a joint steering committee who will be able to explore potential areas of future collaboration.Plexus CEO, Ben Van Bilderbeek, said: “The disposal and collaboration agreement is a win-win for both parties. As well as achieving a sale value of up to £42,500,000 for the Jack-up Business, we gain industry recognition for our technology, which we have long claimed sets a new standard in terms of performance and safety. Furthermore, we have secured the opportunity to collaborate with a top tier company to explore potential development of additional products based on POS-GRIP.“Encouragingly, we believe that the upward trend of the oil price in recent months, alongside indicated OPEC-led production cuts through 2018, could well be the catalyst for an uplift in oil & gas exploration activity during the three year earn-out period.”Richard Alabaster, President of TechnipFMC’s Surface Technologies business, stated: “I am very pleased that we have finalized the transaction which supports our objective of extending and strengthening our position in exploration-drilling products and services while leveraging our global field presence. It also enhances TechnipFMC’s capability in HPHT applications.”last_img read more

Five players Jose could target in January including Fernandes, Dybala and Koulibaly

first_imgKALIDOU KOULIBALY7 Mourinho failed with a £95m bid for Napoli defender Kalidou Koulibaly during his time at Man UtdCredit: Getty ImagesMOURINHO always builds from the back, but Spurs’ defence is all over the place.Toby Alderweireld, a target for Jose at United, looks set to join Eriksen in jumping ship when his deal expires at the end of the season.While Jan Vertonghen has failed to nail down a regular slot this term as he approaches his 33rd birthday.Koulibaly, 28, has proven himself to be one of world football’s best centre-backs during his five-and-a-half years at Napoli, and could be available for a reasonable fee due to the club’s recent problems off the field.Indeed, he will surely be cheaper than the £95million bid Mourinho submitted during his time at Old Trafford, with Napoli president Aurelio De Laurentiis confirming last year: “Mourinho wanted him, we rejected £95m.”DECLAN RICE7 Mourinho wanted to bring West Ham anchorman Declan Rice to Old TraffordCredit: Getty ImagesANOTHER Jose target from his United spell, Rice is one of English football’s most promising youngsters.The West Ham ace, 20, is already a regular for Gareth Southgate’s Three Lions.And he possesses all the traits Mourinho desires in a holding midfielder.Rice was scouted several times by United during the Special One’s tenure.And he may decide the time is right to leave West Ham after their misfortunes under Manuel Pellegrini this season.YOUCEF ATAL7 Chelsea target and Nice star Youcef Atal would immediately solve Spurs’ right-back problemCredit: AFPSPURS are seriously lacking in the right-back department after failing to bring in a replacement for Kieran Trippier after they sold him to Atletico Madrid in the last window.Serge Aurier is not disciplined enough to make the role his own, while Kyle Walker-Peters and Juan Foyth are too injury-prone to be consistent.Most Read In SportTHROUGH ITRobbie Keane reveals Claudine’s father was ’50-50′ in coronavirus battle’I ACCEPT’McGregor accepts Silva fight at UFC catchweight of 176lbs in huge super-fightTOP SELLERGavin Whelan has gone from League of Ireland to David Beckham’s InstagramPicturedA CUT ABOVEMike Tyson shows two-inch cut ‘picked up in training’ ahead of boxing returnExclusiveRIYAD RAIDMan City’s Riyad Mahrez has three luxury watches stolen in £500,000 raidPicturedAN EYEFULMeet Playboy model and football agent Anamaria Prodan bidding to buy her own clubNice star Atal, 23, scored six goals last season in Ligue 1 and is renowned for his skill and trickery on the wing.He is rated so highly that his French club could demand as much as £35m for his signature.But Mourinho loves to have reliable full-backs who can make an impact in both boxes, and he could be especially keen to move for Atal knowing that former club Chelsea are also reportedly interested. IT’S the dawn of a new era for serial runners-up Spurs and that could shortly see the arrival of a host of new players.They have sacked fan-favourite Mauricio Pochettino after a shocking start to the Premier League season.7 Spurs have sacked Mauricio Pochettino and replaced him with Jose MourinhoCredit: Getty7And replacing him is three-time title winner Jose Mourinho, taking his first job since being sacked by Manchester United almost a year ago.The Special One claims he is delighted to be working with Tottenham’s current crop of stars.And he is also prepared to help bring through young stars from the academy.But Mourinho has always enjoyed splashing the cash in the transfer window.And he could soon be deploying a new-look line-up as the January market approaches.Here, SunSport looks at five potential signings for Spurs under their new boss.PAULO DYBALA7 Juventus star Paulo Dybala would be an ideal replacement for contract rebel Christian EriksenCredit: ReutersTHE versatile Argentine forward was a top target for Tottenham over the summer.Spurs were hoping to sign Dybala from Juventus for a big fee late in the window.But the move collapsed at the last moment, leaving Pochettino empty-handed.However, Christian Eriksen looks certain to quit the club on a free transfer when his contract expires in 2020.And Dybala, 25, would be the ideal replacement, with his technique and vision making him one of the best attacking playmakers in world football.BRUNO FERNANDES7 Mourinho is a big fan of Sporting Lisbon’s midfield goal machine Bruno FernandesCredit: GettyTHE central midfielder was tipped to join Manchester United over the summer after scoring 20 goals and assisting 13 more for Sporting Lisbon last season.Fernandes, 25, has since emerged as a target for Spurs as they seek a goal-scoring threat from deep.The Portugal international also has a big fan in Mourinho, with the Special One telling Eleven Sports in June: “I was surprised by his season. It was easy to predict quality, he is a very good player.“But he scored a very high number of goals for a midfielder. It shows you need to have instinct and quality to score and he has it all.“He strikes the ball well, heads well, cool when he is one-on-one with the goalkeeper. He finds space in the penalty area. It’s all there.” Tottenham sack Mauricio Pochettino in shock axe after poor run of formlast_img read more