Prosafe Appeals Over Floatel Merger Rejection

Norwegian accommodation services player Prosafe has filed an appeal against the Norwegian Competition Authority (NCA)’s rejection of its proposed merger with Swedish rival Floatel International.

The merger would create the world's largest fleet of accommodation rigs - a North Sea giant.

Last month, NCA rejected the proposed merger between Scandinavian offshore accommodation/construction support providers.

The Oslo-listed accommodation services player, Prosafe, then said that it would study the decision in detail, and expects to decide on whether to appeal shortly and within the deadline within three weeks.

In the UK, the process with the Competition and Markets Authority is in Phase 2 and more specific information is anticipated to be available in the course of the first quarter of 2020.

Last month the UK’s Competition and Markets Authority raised similar concerns that it could drive up prices to unsustainable levels, with the CMA carrying out further investigations.

The company owns and operates semi-submersible accommodation vessels operating at present in the North Sea region and off Latin America. Sweden-based Floatel International owns and operates a fleet of offshore accommodation and construction support vessels.

Current News

MODEC Gets ABS Nod for Floating Wind Turbine Design

MODEC Gets ABS Nod for Floatin

Prysmian Hires NextGeo for Interconnector and Offshore Wind Survey Work

Prysmian Hires NextGeo for Int

Agogo FPSO Produces First Oil at Azule Energy’s Field off Angola

Agogo FPSO Produces First Oil

Japan Assigns Two Sites for Upcoming Offshore Wind Auctions

Japan Assigns Two Sites for Up

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine