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Prosafe calls off merger with competitor

The merger between Prosafe and Floatel, which both lease hotel rigs in the North Sea, has been canceled. The decision comes after the transaction was met with resistance in Norway as well as the UK.

Prosafe CEO Jesper K. Andresen | Photo: PR / Prosafe

Prosafe, which leases accommodation vessels to the oil sector, calls off its planned merger with competitor Floatel.

The decision comes after authorities in Norway as well as the UK voiced severe concerns that the merger will distort competition in the North Sea.

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