4C is now TGS

We are excited to announce a significant milestone in 4C Offshore's journey. Our integration into the TGS family marks the beginning of a new era in offshore wind market intelligence.

Learn what this means for you!

TGS and PGS merger receives final approval from UK regulator

By: Chloe Emanuel 12/06/2024 TGS

Cables CHMI Equipment General Logistics Ports Turbines Vessels Windfarms

TGS ASA and PGS ASA have cleared the final regulatory hurdle for their planned merger, securing unconditional approval from the UK's Competition and Markets Authority (CMA). This follows previous announcements confirming approvals by the Norwegian Competition Authority and various corporate endorsements.

With the CMA's clearance, all conditions for the merger have been satisfied. The two companies are now set to finalize their merger on July 1, 2024, creating a leading entity in the energy data sector.

"TGS is pleased to note that all conditions for the merger have been fulfilled now that we have received CMA clearance," said Kristian Johansen, CEO of TGS. "We look forward to completing the merger on July 1, 2024, and bringing the strength and breadth of our combined service offerings to the market."

Rune Olav Pedersen, President & CEO of PGS, added, "With clearance from the CMA, all merger conditions are satisfied. I believe that the merger will benefit all stakeholders. The combined company will provide a more complete and diversified geophysical offering to customers, more opportunities for employees, and value to shareholders."

Further details and key dates for the merger completion will be provided soon.

For information about offshore wind farm projects across the globe, click here.

Premium

4C Offshore Premium, our most popular subscription, gives you full access to use the 4C Offshore WebApp which includes exclusive offshore wind, transmission and vessel reports, news and downloads.

Request a 30 minute Demo

TGS and PGS merger receives final approval from UK regulator

Back to News

Trending News!