Offshore support duo call off planned merger

    Feb. 13, 2020
    European offshore accommodation/construction support giants Prosafe and Floatel International have decided to discontinue their planned merger, due to financial uncertainty and process risk.
    (Courtesy Prosafe)
    The accommodation vessel Safe Concordia.
    The accommodation vessel Safe Concordia.

    Offshore staff

    STAVANGER, Norway – European offshore accommodation/construction support giants Prosafe and Floatel International have decided to discontinue their planned merger, due to financial uncertainty and process risk.

    Competition authorities in Norway and the UK have challenged the proposed merger.

    Prosafe said it regretted that any near-term completion of a value-enhancing combination was unlikely.

    02/13/2020

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