Fri, 24 Dec 2010 | MERGER
Subsea7, an offshore oil firm based in Aberdeen, is to dispose of a portion of its business after being taken over by Acergy.
Acergy merged with Subsea7 in June this year, boosting its employee number to 12,000 and has a new market value of £3.6 billion. It is anticipated that the newly created entity will result in cost savings of more than $100 million per year.
London-based Acergy is a seabed-to-surface engineering and construction contractor to the oil and gas sector.
Information regarding the proposed merger has recently been submitted to the UK Office of Fair Trading. It is now assessing the suggested divestments prepared to gain its approval, which are the sale of a pipelay vessel and possibly a diving vessel.
The two businesses have only one other competitor in the global market for oil services.
It was reported in July that about 150 new jobs had been created at Wester Yard, a business operated by Subsea7, as a result of the merger. Wester Yard runs a pipe fabrication operation located near Wick in the Highlands.
We are pleased to present an exciting opportunity to acquire a well-established and profitable online retailer that supplies quality furniture accessories used in most homes, Restaurants, Schools, Hotels etc. The Business has come to market as part o...
Premier provider of carpentry and joinery in London and counties, catering to a diverse clientele encompassing luxury and mid-range property developers, main contractors, and discerning private clients.
Established in 2000, the agency was founded with the sole intention of providing quick and efficient travel arrangements to exhibitions throughout the world. Over the years, their reputation has grown, and they now proudly boast an excellent loyal cl...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.