Herbjorn Hansson-led Nordic American Offshore (NAO) has struck a merger deal with Canada's Horizon Maritime Services (HMS).
HMS will take a 52% stake in the combined company, while NAO shareholders will come out with 48%.
Canadian billionaire businessman and investor John Risley and his companies are backing the deal.
The two parties have until 31 October to tie up due diligence and sign a final contract.
