Asset Sale Ends Review Of $2.5B Acergy, Subsea 7 Deal

Law360, New York (August 17, 2011, 3:35 PM EDT) -- U.K. competition regulators on Wednesday said Acergy SA's sale of a pipe-laying vessel assuaged their concerns about the Norwegian energy company's completed $2.5 billion acquisition of Subsea 7 Inc., and that the deal could go forward without further review.

Acergy agreed to sell the Acergy Falcon, a vessel used to put together undersea oil and gas pipelines, to Grup Servicii Petroliere SA in February in a bid to quell competition concerns. The U.K. Office of Fair Trading said the divestiture was enough to prevent a referral...
To view the full article, register now.