Prosafe extends time frame for merger plans

Prosafe and competitor Floatel have extended the long stop date for their merger by six months. The merger is still pending necessary approvals after Norwegian authorities initially rejected the endeavor.

Photo: PR / Prosafe

The agreement on a future merger between the two competitors Prosafe and Floatel has been extended by another six months until June 30, informs Prosafe in a notice to the Oslo Stock Exchange.

Prosafe and Floatel, which both lease out hotel rigs, announced plans for a merger in the summer of 2019.

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