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...]

Carlyle Completes Vigor, MHI Holdings Acquisition

Global investment firm The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management today announced they have closed on their acquisition of Portland, Oregon-based Vigor Industrial and Norfolk, Virginia-based MHI Holdings. As part of the agreement, Vigor Industrial LLC, an infrastructure, defense, and maritime services company, will be merged with MHI … [Read more...]