Update on merger process with Prosafe - competition process:
On 26th August Floatel confirmed that the competition process in Norway was in its second and final phase with a conclusion expected before the end of September, whereas in the UK the competition process was still in the first phase.
As regards the Norwegian process there are no news as of yet.
With regards to the UK process the company has been informed by the UK authorities to the effect that the merger cannot be cleared unconditionally in Phase 1. Floatel and Prosafe are currently considering acceptable remedy for Phase 1 or whether to enter Phase 2.
About Floatel
Floatel provides top quality offshore Floatels for extreme conditions. With headquarters in Bermuda, Floatel International Ltd. has a Gothenburg subsidiary, Floatel International AB, for onshore operational support and supervision.
About Prosafe
Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS.