Merger Notification - Announcement according to § 10 Cartel Act
Baker Hughes Holdings LLC; Akastor ASA
BWB/Z-5395
On 29.04.2021 the Austrian Federal Competition Authority was notified of the following merger:
Planned purchase process
Baker Hughes Holdings LLC, USA, and Akastor ASA, Norway, intend to combine Baker Hughes Holdings LLC´s “Subsea Drilling Services” business and Akastor ASA’s group company MHWirth AS in a newly incorporated full function joint venture.
The joint venture will be directly or indirectly jointly controlled by Baker Hughes Holdings LLC and Akastor ASA.
Industry sector: Products and services for petroleum and natural gas extraction
Industry sector: B - Bergbau und Gewinnung von Steinen und Erden
Deadline for bringing in an application pursuant to § 11(1) Cartel Act will end on 27.05.2021.
Entrepreneurs whose legal or economic interests are affected by the merger can bring in a written statement at the Federal Competition Authority or the Federal Cartel Prosecutor within 14 days from publication date.
Note: The intervening party has no right to a certain treatment of the statement and will not gain a party position.
Non-prohibition of the merger
The Federal Competition Authority and the Federal Cartel Prosecutor have not applied for examination of the merger by the Cartel Court. The standstill obligation (§ 17 (1) Cartel Act) ends with effect from 28.05.2021 .