WR assisting Floatel International in contemplated merger with Prosafe

Wikborg Rein have assisted Floatel International Ltd. in relation to the contemplated merger with Prosafe SE.

Prosafe SE (Norway) is a leading owner and operator of semi-submersible accommodation vessels (flotels) listed on the Oslo Stock Exchange, and, like Floatel International Ltd (Bermuda) delivers offshore accommodation to clients in the oil and gas industry worldwide. In a merger of equals, Prosafe will acquire Floatel with consideration in Prosafe shares, whereby Floatel’s principal shareholders will become large shareholders in Prosafe. The merger will create the world’s largest offshore accommodation company, combining Prosafe’s existing nine semi-submersible vessels and options for two newbuild semi-submersible vessels with Floatel’s five semi-submersible vessels.

The WR team has been lead by Andreas Fjærvoll-Larsen and Ole Henrik Wille.

For more information about the deal see:

Floatel

Prosafe