Companies & Finance

Brussels approves AKOFS Offshore joint venture

The European Commission has approved the acquisition of joint control over Norwegian company AKOFS Offshore.
By Staff reporter 10 September 2018 0 32477

The European Commission has approved the proposed acquisition of joint control over Norwegian company AKOFS Offshore by Norway’s Akastor and Japanese companies Mitsui and Mitsui OSK Lines, the commission said on Monday.

AKOFS Offshore is a provider of vessel-based subsea well construction and intervention services for the oil and gas industry.

“The commission concluded that the proposed transaction would raise no competition concerns as the companies’ activities do not overlap in the European Economic Area. The transaction was examined under the simplified merger review procedure,” the commission...