Shipping investor Oaktree’s plan to consolidate the offshore accommodation sector through the merger of Prosafe and Floatel International has failed.
The combination of the two Oslo-listed companies has been called off by both sides, they said on Thursday.
"The regrettable conclusion is that any near-term completion of a value-enhancing merger is unlikely," the companies added.
The deal hit a stumbling block last year when UK competition authorities found it raised competition concerns in the supply of floatels.
