OSV trio plans to close merger in first half of 2017

A proposed merger between three Norwegian offshore supply vessel providers, Deep Sea Supply, Farstad Shipping, and Solstad Offshore, is on track to be completed during the first half of this year. 

According to a joint statement on Monday by the three companies, they are finalizing the proposal for the merger and plan that their board of directors will resolve on the merger proposal and the statutory merger plan by the end of March 2017.

Subject to agreement on final transaction documentation and other closing conditions, the proposed combination is expected to be completed during the first half of 2017, the statement further said.

The new combined company will have a fleet of 154 vessels which will include 33 CSV, 66 PSVs, and 55 AHTS vessels.

Together with the plan for the merger in early February, Farstad’s stakeholders also agreed a plan for the company’s financial restructuring, which was not  dependent on the combination being complete. Conditions for completion of Farstad’s restructuring were fulfilled and the restructuring was completed on March 9.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply