Saipem: about to merge with Subsea7
(CercleFinance.com) - Saipem and Subsea7 announce that they have reached an agreement in principle on the key terms of a potential merger of the two companies, a combination that 'is expected to create a world leader in energy services.
Named Saipem7, the new group will have a combined order book of E43bn, sales of around E20bn and EBITDA of over E2bn, with over 45,000 employees, including over 9,000 engineers and project managers.
Under the agreed terms, Subsea7 shareholders will receive 6.688 Saipem shares for each share held, and Subsea7 will distribute an extraordinary dividend of E450m immediately before the transaction is completed.
Saipem and Subsea7 shareholders will each hold 50% of the share capital. The reference shareholders of both groups have expressed their intention to vote in favor of the transaction, which is expected to close in H2 2026.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
Named Saipem7, the new group will have a combined order book of E43bn, sales of around E20bn and EBITDA of over E2bn, with over 45,000 employees, including over 9,000 engineers and project managers.
Under the agreed terms, Subsea7 shareholders will receive 6.688 Saipem shares for each share held, and Subsea7 will distribute an extraordinary dividend of E450m immediately before the transaction is completed.
Saipem and Subsea7 shareholders will each hold 50% of the share capital. The reference shareholders of both groups have expressed their intention to vote in favor of the transaction, which is expected to close in H2 2026.
Copyright (c) 2025 CercleFinance.com. All rights reserved.