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DWF comments on CMA merger concerns of Floatel and Prosafe

05 September 2019
Commercial Law
Dimitris Sinaniotis, Competition Director at global legal business DWF, comments on the concerns raised by the Competition and Markets Authority (CMA) for the proposed deal between Floatel and Prosafe.

Dimitris Sinaniotis said:

"The CMA has found that Prosafe and Floatel are the two largest suppliers of offshore accommodation support vessels (ASVs) in North West Europe and the deal could reduce competition in this market. The CMA has therefore decided to open a Phase 2 in-depth investigation.

"At this stage the parties have a number of options: either consider and offer any remedy which would be acceptable by the CMA to address the relevant competition concerns identified in Phase 1; or fight the CMA's findings and therefore enter the lengthy Phase 2 investigation; or abandon the deal all together.

"It will be an interesting waiting game to see what route is taken as a remedy to the CMA's concerns."

 

For more information, please contact:

Nahidur Rahman, Senior PR Manager
Tel: +44 7851 796943
Email: nahidur.rahman@dwf.law 

Alternatively, contact the DWF press office on press.office@dwf.law

 

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