Entity

HPL Technologies BV is a wholly owned subsidiary of HPL which has been formed for purpose of acquisition of Lummus Technology Division (operated through various corporate entities) of McDermott International Inc. HPL Technologies BV along with private equity Rhone Capital formed a Joint Venture to acquire the technology division of MDR for an enterprise value of ~$2.67 Bn on 30th June 2020. MDR hived off its technology business (Target) into a separate SPV which was put up for sale under Chapter XI as per the US Bankruptcy Laws.

HPL Technologies B.V. was registered on 25^th Aug 2020 in The Netherlands. (Source)