UK Considers Rig Sale Remedy In Maersk, Noble Merger

By Najiyya Budaly (July 22, 2022, 4:17 PM BST) -- Britain's antitrust authority said Friday that it is weighing plans by Noble Corp. to sell several of its rigs to Shelf Drilling Ltd. in order to clear competition concerns about its £2.6 billion ($3.1 billion) merger with Maersk Drilling.

The Competition and Markets Authority said it is looking into remedies proposed by the companies that will mean divesting Noble's fleet of jack-up rigs located in northwestern Europe.

The CMA in April expressed concern that the merger would reduce competition over the supply of jack-up rigs for offshore drilling in northwestern Europe, including in the U.K., Denmark and the Netherlands. The services...

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