Prosafe SE Acquires Floatel International in All-Share Merger

June 3, 2019

Prosafe SE will acquire Floatel International Ltd through an all-share merger of equals that issues new Prosafe shares as consideration, leaving Prosafe and Floatel shareholders with approximately 55% and 45% of the combined company on a fully diluted basis. The combined group — to continue as Prosafe SE listed on the Oslo Stock Exchange — will create the world’s largest offshore accommodation company with an enlarged semi-submersible fleet, broader geographic presence and anticipated operational efficiencies.

Buyers
Prosafe SE
Targets
Floatel International Ltd
Sellers
Floatel's principal shareholders
Industry
Oil & Gas
Location
Oslo, Norway
Transaction Type
Buyout

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