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.

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