Floatel, Prosafe waiting on competition authorities to wrap merger

Closure date for the merger between offshore accommodation rig owners Floatel and Prosafe is not yet certain, as the flotel contractors are waiting for the competition authorities to give approval.

In separate statements issued in the past week, the two firms said their respective banks have given support for the merger, subject to satisfactory documentation, and bondholder, EGM, and competition authorities approvals.

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