The Norwegian Competition Authority has cleared the merger of Aker Maritime and Kværner’s oil and gas activities. The authority has approved the merger without reservations, on the basis that the merged company will not have the opportunity of exercising market power through deliveries of new buildings and maintenance services to oil companies operating on the Norwegian continental shelf. The Competition Authority concludes that following the merger there will still be sufficient competition from foreign players, and the oil companies which are active in Norway have significant purchasing power. Except for clearance in the US, which in this case is expected to pose no problems, this is the final approval required from the authorities.
