Subsea 7 Merger Gets UK Competition Clearance

Subsea 7 S.A. today announces that the UK Office of Fair Trading (OFT) has decided not to refer the merger of Subsea 7 S.A. (formerly Acergy S.A.) and Subsea 7 Inc. to the UK Competition Commission for further investigation. The OFT considers that the divestiture of a rigid pipelay vessel competing in the UK sector of the North Sea, will remedy the possible competition concerns identified in the course of its first stage review.

Consequently, the Company has entered into a binding commitment to divest of Acergy Falcon, to Grup Servicii Petroliere SA (GSP), a suitable purchaser. The transfer of ownership to GSP is expected to be completed during September 2011, following completion of the vessel’s current commitments.

GSP has signed an exclusive 5 year deal with Bibby Offshore for the provision of diving and tie-in services in North West Europe.

Source: subsea7, August 17, 2011;

Share this article

Follow Subsea World News

Events>

<< Apr 2015 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Aberdeen – Introduction to Subsea Facilities

This is an intensive one-day course and is specifically designed for all offshore topsides maintenance operatives and other support staff…

read more >

Transnational Oil, Gas and Energy Law

Study a Unique Online Learning Programme that is Highly Relevant to Today’s International Market…

read more >

Fundamentals of Offshore Field Development

The course delivers the detailed knowledge required, along with management strategies, for you to successfully engage in the sector…

read more >

Global Offshore Technology 2015

The conference and exhibition was held under the auspices of The Ministry of Energy, Commerce, Industry & Tourism Cyprus and united…

read more >