TGS ASA and PGS ASA have successfully obtained all the necessary regulatory clearances for their merger, including final approval from the UK’s Competition and Markets Authority (CMA). The merger, initially announced in September 2023 and later approved through subsequent shareholder meetings, aims to establish a leading energy data company. The deal had previously received clearance from the Norwegian Competition Authority. With this latest approval, all conditions for the merger are satisfied, and the two companies plan to finalize the combination on July 1, 2024. The merger aims to offer a more complete and diversified geophysical service offering, enhance opportunities for employees, and create increased value for shareholders. Both CEOs expressed optimism regarding the merger’s benefits for stakeholders. More details and key dates for the merger’s completion will be announced soon.
Energy, Geophysical Services,Norway, United Kingdom
https://www.globenewswire.com/news-release/2024/06/11/2896488/0/en/TGS-and-PGS-Receive-Final-Competition-Clearance-Merger-Conditions-Satisfied.html