BW's Prosafe Offer approvedBW Offshore's offer document for all shares in Prosafe Production Public Limited has been approved by Oslo Stock Exchange and the Financial Supervisory Authority.
BW Offshore's offer is 1.2 shares in BW Offshore and NOK 2 in cash for every Prosafe Production share. If Prosafe sell their turret and swivel business before the transaction is completed, the offer will be 1.2 BW Offshore shares and NOK 5,25 per Prosafe share. The offer is valid until August 25. - The FPSO market needs a larger company to answer the call for a higher level of technical knowhow from both customers and government regulations. We think that Prosafe and BW Offshore combined will be a broad FPSO company with presence, financial strength and competence, Carl Arnet, CEO of BW Offshore, said when BW Offshore launched their offer in June.
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