OSLO, Norway — The Norwegian Competition Authority has issued its clearance for the proposed merger between PGS and TGS.
However, the UK’s Competition Market Authority is still in its Phase I review, with a deadline of June 11 for it to declare clearance or proceed to a Phase II review.
PGS/TGS said they continue to target completion of the merger during the current quarter, conditional on the closing conditions described in the merger plan.
Both companies’ shareholders have approved the merger.
