Norway Rejects Prosafe-Floatel Merger
The Norwegian Competition Authority has rejected the proposed merger between Scandinavian offshore accommodation/construction support providers Prosafe and Floatel.
Oslo-listed accommodation services player Prosafe in a press release said that it will study the decision in detail, and expects to decide on whether to appeal shortly and within the deadline within three weeks.
The company owns and operates semi-submersible accommodation vessels operating at present in the North Sea region and off Latin America.
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.
Sweden-based Floatel International owns and operates a fleet of offshore accommodation and construction support vessels. The company was established in 2006.