Floatel International - Update on merger process - extension of transaction agreement with Prosafe

Update on merger process - extension of transaction agreement with Prosafe

Floatel International Ltd and Prosafe SE and have agreed to extend the long stop date in the transaction agreement from 31 December 2019 until 30 June 2020.

Competition clearance continues in Norway and the UK, and further information will be provided in due course.

A potential merger will also be subject to lenders approval, approval from Floatel Bondholders and approval by an Extraordinary General Meeting in Prosafe SE.

For further information, please contact:
Peter Jacobsson, CEO, Floatel International AB – Tel: + 46 31 352 07 00; Mob: +46 76 856 36 18
Tomas Hjelmstierna, CFO, Floatel International AB – Tel: + 46 31 352 07 00; Mob: +46 70 261 09 01