Prosafe and Floatel give up on merger plans amid financial uncertainty

Offshore accommodation specialists Prosafe and Floatel have decided to abandon their merger plans amid financial uncertainty and regulatory objections. The merger would have created the world’s largest offshore accommodation company.

Prosafe and Floatel International said on Thursday they had mutually decided to discontinue the merger process due to financial uncertainty and process risk.

“The regrettable conclusion is that any near term completion of a value enhancing merger is unlikely,” the two companies said.

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