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    DSND issues update on merger situation

    News // April 26, 2002
    DSND and Halliburton have announced that Subsea7, the new company formed by merging DSND Subsea and Halliburton Subsea should be operational by the end of April.

    The companies say that the reason for the delay in the merger is the highly complex nature of the transaction.

    Subsea7 has committed financing of $200 million in place, underwritten by a consortium consisting of Den Norske Bank ASA, ING Bank NV and Nordea Bank Norge ASA.

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