Subsea 7 obtains competition clearance in Brazil

Company News - December 8, 2011

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Subsea 7 has announced that antitrust clearance has been granted from the relevant Brazilian authorities.

On July 9, 2010 Acergy SA and Subsea 7 Inc submitted their application to the Brazilian antitrust authorities.

On November 23, 2011 unconditional clearance was issued unanimously by the board of
the Administrative Council for Economic Defense (CADE), the Brazilian antitrust deciding entity.

The clearance completes the regulatory approvals required from the relevant antitrust authorities in certain jurisdictions regarding the combination of Subsea 7 SA (formerly Acergy SA) and Subsea 7 Inc.

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