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On Hold

Yesterday, Prosafe Production extended its letter of intent to sell its turret and swivel business to National Oilwell Varco (“NOV”). As a consequence of BW Offshore’s voluntary offer to acquire all the outstanding shares of Prosafe, NOV had requested the extension until after the offer had been concluded and the future ownership structure clarified.

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Written by: | Categories: Freshly Minted, The Week in Review | May 12th, 2011 |

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