Update on merger process with Prosafe - competition process

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.

Further information on status and way forward in both Norway and UK will be provided in due course.

For further information, please contact:
Peter Jacobsson, CEO, Floatel International AB – Tel: + 46 31 352 07 00; Mob: +46 76 856 36 18
Tomas Hjelmstierna, CFO, Floatel International AB – Tel: + 46 31 352 07 00; Mob: +46 70 261 09 01