Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

In the proposed transaction, Akastor AS ("Akastor") will sell 50 % of the shares in AKOFS Offshore 1 AS ("AKOFS") to Mitsui O.S.K. Lines, Ltd. ("MOL") and Mitsui fr Co., Ltd. ("Mitsui") (together, "the notifying parties") in accordance with Share Purchase Agreement of 19 June 2018 ("the concentration"). Under the Share Purchase Agreement, each of MOL and Mitsui will purchase 25 % of the shares in AKOFS from Akastor. The remaining 50 % will continue to be owned by Akastor.

The Shareholders' Agreement entered into between the notifying parties confers a significant number of reserved matters to each shareholder, including veto rights on key items. On this basis, the notifying parties submit that these reserved matters confer upon each acquiring party joint control of the target company AKOFS.

AKOFS provides vessel-based installation and construction and well intervention services for subsea oil and gas developments. AKOFS operates three subsea support vessels active within installation of subsea facilities and subsea well intervention services essential for subsea oil and gas production. Currently, AKOFS only has active operations on the Brazilian continental shelf.

Akastor is a Norwegian public limited investment company based in Norway with a portfolio of companies in the oilfield services sector in addition to other smaller-sized holdings. Akastor is fully owned by Akastor ASA, which is listed on the Oslo Stock Exchange Akastor is controlled by the Norwegian industrial ownership company Aker ASA.

Mitsui is a Japanese trading company group engaged in a range of global business activities including worldwide trading of various commodities, financial services and project and company management, inter alia within the offshore oil and gas industry. Mitsui is listed on the Stock Exchanges of Tokyo, Nagoya, Sapporo and Fukuoka.

MOL is a Japanese multi-modal transport group specializing in a number of categories of global ocean shipping and related markets. MOL is listed on the Tokyo Stock Exchange.

Neither MOL nor Mitsui nor Aker control vessels operating on the same product markets as AKOFS' vessels. Notwithstanding certain pre-existing vertical market relations between AKOFS and other entities in Aker's corporate group, the concentration does not give rise to any horizontal overlaps or vertical relations between AKOFS and the notifying parties.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.