Services player Fugro has cancelled plans to divest its subsea services business in Asia Pacific to Australian player Shelf Subsea.
Fugro said on Monday it decided not to sell the unit, as the parties were unable to reach agreement on some closing conditions.
The companies signed in August a €14 million ($15.5 million) sale agreement that would have seen Fugro transfer one owned offshore supply ship, three chartered vessels and 18 remotely operated vehicles.
