UK regulator to further probe Prosafe-Floatel merger after competition concerns raised

The UK Competition and Markets Authority will refer the proposed merger between Prosafe and Floatel to Phase 2, after the first phase raised competition concerns.

The proposed combination would create the world’s largest owner of semi-submersible accommodation rigs.

The UK CMA said that – after completing its initial Phase 1 investigation – it was concerned that the deal could reduce competition in the supply of flotels for oil and gas projects on the UK continental shelf.

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