The competition authorities in South Korea, the United States, the European Union and China have cleared the merger between the two classification societies Det Norske Veritas (DNV) and Germanischer-Lloyd.
The new company, formally named DNV GL Group, will comprise 17,000 employees across 300 sites in more than 100 countries and will have annual revenues of EUR2.5 billion (US$3.3 billion).
Once the merger is complete, DNV GL will be the world's largest ship and offshore classification society to the maritime industry. The group will be a leading provider of technical assurance and risk management services to the oil and gas industry, as well as an expert in wind and power transmission and distribution.
DNV GL will also take a position as one of the top three management system certification bodies in the world.