Technip Reaches Halfway Point in Share Buyback Program
Technip initiated a new share buyback program at the beginning of May 2006 to enhance shareholder value by returning to its shareholders approximately EUR 600 million of cash which became available following the conversion into equity of the Group's convertible bond on March 23, 2006.
As of today, Technip has reached the halfway point of the program, having repurchased 6,760,000 shares for a total amount of approximately EUR 300 million.
Technip plans to continue the share buyback program as market conditions permit.
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