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Subsea 7 — M&A Activity 2010
Sep 28, 2010
6244_rns_2010-09-28_42fd31f0-faee-4b65-9625-c26ec78c1117.html
M&A Activity
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Acergy S.A. announces anti-trust clearance from relevant US and Norwegian authorities regarding the proposed combination of Acergy S.A and Subsea 7 Inc.
London, England - September 28, 2010 - Acergy S.A.
(NASDAQ-GS: ACGY; Oslo Stock Exchange: ACY) today
announced that anti-trust clearance has been granted
from the relevant US and Norwegian authorities.
On August 9, 2010 Acergy S.A. and Subsea 7 Inc.
submitted their respective applications to the US
Federal Trade Commission and the Anti-trust Division
of the US Department of Justice. On September 8,
2010, the waiting period in connection with the
application was terminated, at which point the
Combination was cleared by the relevant US
authorities.
On September 6, 2010, Acergy S.A. and Subsea 7 Inc.
submitted a notification to the Norwegian Competition
Authority. On September 28, 2010 unconditional
clearance was issued.
Completion is currently anticipated for January 2011
subject to shareholder approvals and other customary
completion conditions, as outlined in the prospectus
dated September 21, 2010.
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Acergy S.A. is a seabed-to-surface engineering and
construction contractor to the offshore oil and gas
industry worldwide. We provide integrated services,
and we plan, design and deliver complex projects in
harsh and challenging environments.
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Contact:
Karen Menzel
Acergy S.A.
+44 (0)20 8210 5568
www.acergy-group.com
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