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>

<< Apr 2019 >>
MTWTFSS
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

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

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

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