Solstad Offshore Bolsters Ownership Stake in Omega Subsea
completion of all transactions, Omega Subsea will own 100% of Omega Subsea Robotics.Shareholders of Omega Subsea will be Omega (60%), Solstad Subsea (35.8%) and key employees of Omega Subsea (4.2%).The transaction is subject to customary closing conditions including approval from the Norwegian Competition Authority, satisfactory due diligence and final transaction documentation. Completion of the transaction is expected in the first quarter of 2025.Omega Subsea Robotics was established in 2022 as an industrial collaboration between Solstad Offshore and Omega Subsea, with the goal of making joint
Norway Clears TGS and PGS Merger
Norwegian seismic firms TGS and PGS have received merger approval from the Norwegian Competition Authority (NCA), brining them one step closer to establish a premier energy data company.The merger between the companies, first announced in September 2023, has been subject to review by the competition authorities in the UK as well as in Norway.NCA has on April 17, 2024, cleared the merger of the two companies, whereby in the UK, the UK Competition Market Authority (CMA) is still conducting its phase I review. The deadline for the CMA to announce clearance or phase II review is June 11, 2024."TGS
Statoil: ESA Conducts Inspection
Statoil's office in Stavanger is subject to an inspection visit by the EFTA Surveillance Authority (ESA), assisted by the Norwegian Competition Authority (Konkurransetilsynet). The inspection is carried out on request of the European Commission. Statoil is cooperating with the authorities in their inspection. The authorities suspect participation by several companies, including Statoil, in anticompetitive agreements and/or concerted practices contrary to Article 53 of the EEA Agreement. In addition the inspection relates to potential abuse of possible dominant position by another party, contrary to
Aker Solutions Acquires Subsea Companies
exponentially over the next few years. Of Aker Solutions' 25 000 employees almost 7 000 are employed within the subsea business. The transaction of Subsea House and SSH Engineering is expected to be completed in the third quarter of 2012. The acquisition is subject to approval from the Norwegian Competition Authority.
February 2025
