Update on Merger process with Floatel – Competition Process
On 22nd August Prosafe, confirmed that the competition process in Norway was in its second and final phase with a conclusion expected before the end of September, whereas in the UK the competition process was still in the first phase.
As regards the Norwegian process, there is no news as of yet.
With regards to the UK process, the company has been informed by the UK authorities that the merger cannot be cleared unconditionally in phase one. Prosafe and Floatel are currently considering acceptable remedy for phase one or whether to enter phase two.
Further information on status and way forward in both Norway and UK will be provided in due course.
Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com
Stavanger, 5 September 2019
For further information, please contact:
Glen Ole Rødland, Chairman of Prosafe: + 47 907 41 662
Jesper Kragh Andresen, CEO of Prosafe: +47 907 65 155