By Mike Wackett (The Loadstar) Unifeeder has expanded its global reach and closed the gap on market leader X-Press with its acquisition of a majority stake in Singapore-based feeder and shortsea operator Feedertech Group. DP World-owned Unifeeder will buy a 77% stake in Feedertech, with the Singapore registered company’s chairman, Ali Maghami, retaining the remaining … [Read more...]
Italy’s Saipem to Consider Combining With Rival Subsea 7
By Ed Hammond, Daniele Lepido and Dinesh Nair (Bloomberg) --Saipem SpA is considering a combination with rival Subsea 7 SA in what could rank as one of the European oil services industry’s biggest-ever deals, people with knowledge of the matter said. The Italian company is pursuing a potential transaction with Norway-listed Subsea 7 as it seeks to bulk up and weather an … [Read more...]
Shell to Buy French Offshore Wind-Power Developer
By Kelly Gilblom (Bloomberg) -- Royal Dutch Shell Plc has agreed to buy French offshore wind developer Eolfi SA, continuing its expansion into renewable power. The Anglo-Dutch oil major is boosting spending on low-carbon energy as it faces pressure to address the risks climate change poses to its business. Shell’s biggest renewable bets so far have been on acquiring retail … [Read more...]
Norway Rejects Accommodation Vessel Mega-Merger
The Norwegian Competition Authority has rejected the proposed mega-merger of accommodation vessel operators Prosafe and Floatel on the grounds that the merger would lead to increased prices through less competition. A joint statement from the two companies said they were notified on Tuesday in a Statement of Rejection from the NCA. “Floatel and Prosafe will study … [Read more...]
Keppel Receives Takeover Offer That Could Too Good to Pass Up
By David Ramli (Bloomberg) --Singapore’s Temasek Holdings Pte plans to take control of Keppel Corp. for about S$4 billion ($3 billion) and undertake a review of the oil-rig builder’s business that could involve a board shakeup. The state-backed investor, which already owns about one-fifth of Keppel, offered to buy an additional 30.6% stake at S$7.35 a share, according to a … [Read more...]