DNV, GL to merge

An agreement has been signed to merge DNV and GL. The new entity will be called DNV GL Group. The new company will serve, among others, the renewable energy and electric power sectors and the oil and gas sector.

With more than 17,000 employees and an extensive global network of offices, DNV GL Group is positioned to meet increased international competition and even better serve the needs of the customers.

The DNV Foundation will hold 63.5 percent, while GL's owner Mayfair SE will hold 36.5 percent of the shares. The new company, with a combined turnover of some $3.32 billion, will be headquartered and registered in Norway.

DNV GL Group will strengthen its foothold in several areas of expertise, including the maritime segment and across the entire oil and gas value chains. The group will also be one of the global leaders in pipeline verification and asset integrity services as well as in renewable energy certification and advisory services.

DNV GL Group will operate in the business segments Maritime, Oil & Gas, Energy and Business Assurance. Its global headquarters will be in Høvik outside of Oslo, Norway.

The maritime business unit will be headquartered in Hamburg, Germany, while maintaining its commitment to the Norwegian maritime cluster. Oil & Gas will be headquartered at Høvik, Norway, while Energy will be headquartered in Arnhem, the Netherlands, with a hub for renewables in Bristol, U.K., and Business Assurance in Milan, Italy. DNV GL Group will be organized as a Norwegian limited company (AS). The transaction requires approval from competition authorities.

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