OFT accepts divestment of a vessel in Acergy/Subsea 7 merger

[Legal Beagles]

The OFT has accepted undertakings to address the competition concerns arising from the completed acquisition of Subsea 7 Inc by Acergy S.A. (since renamed Subsea 7 S.A.). As a result, the merger will not be referred to the Competition Commission. Under the terms of the undertakings, the pipelay vessel, the Acergy Falcon, will be sold to Grup Servicii Petroliere SA (GSP).

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