Oceaneering International Inc / Subsea 7 Inc

OFT closed case: Anticipated acquisition by Oceaneering International Inc of the ROV business operations of Subsea 7 Inc.

• From: Competition and Markets Authority
• Published: 19 December 2003

• Case type: Mergers
• Case state: Closed
• Market sector: Engineering
• Outcome: Mergers - phase 1 found not to qualify
• Closed: 19 December 2003

Affected market: Subsea services to the oil and gas industry by remotely operated vehicle

No. ME/1512/03

On the basis of the information available to it, the OFT has decided that the proposed acquisition of the ROV business of Subsea 7 Inc by Oceaneering International Inc does not qualify for investigation under the mergers provisions of the Enterprise Act 2002, because neither the UK turnover test nor the share of supply test in section 23 of the Act is met.  A relevant merger situation has, therefore, not been created.

 

Published 19 December 2003