Prosafe has spent millions on merger still pending approval

Prosafe has spent USD 1.5 million on its planned merger with Floatel, a move that has yet to receive regulatory approval. The Norwegian Competition Authority will make a decision in late October.

Photo: PR / Prosafe

Prosafe still awaits the go-ahead for its merger with competitor Floatel, a move which would create a new, major player in the market for hotel rig leasing in the North Sea.

But although the merger has yet to receive approval, the process has already cost the company a significant amount of money.

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