Acergy/Subsea 7 merger granted anti-trust clearance

Offshore staff

LONDON -- US and Norwegian authorities have granted the Acergy and Subsea 7 merger anti-trust clearance.

On Aug. 9, Acergy S.A. and Subsea 7 Inc. submitted their respective applications to the US Federal Trade Commission and the Anti-trust Division of the US Department of Justice. On Sept. 8, the application waiting period was terminated, at which point the combination was cleared by the relevant US authorities.

On Sept. 6, 2010, Acergy S.A. and Subsea 7 Inc. submitted a notification to the Norwegian Competition Authority. On Sept. 28, unconditional clearance was issued.

Completion is expected in Jan. 2011 subject to shareholder approvals and other customary completion conditions, the company says.

09/29/2010