“As concerns the merger, we have achieved clearance from the competition authorities in three of the four required jurisdictions: South Korea, the US and the EU. We hope to receive clearance from Chinese competition authorities shortly and are, pending their decision, currently looking at officially closing the merger transaction sometime this month,” Henrik Madsen, group ceo of DNV, said in its half year results announcement.
The merger will create the world’s largest classification society, and preparatory work has been going on since the announcement of the merger in December last year.
“Given the timeline, the past six months laid emphasis on integration planning so that we are ready to start operating as one company as soon as possible,” said Thomas Vogth-Eriksen, DNV group cfo.
In the first half of the year DNV reported a net profit of NOK417m ($68.7m) up from NOK202m in the previous year, while revenues grew 13% to NOK6.66bn.
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