Saipem: eyes on Subsea 7?
(CercleFinance.com) - According to Bloomberg, the Italian oil services company Saipem, which has oil major Eni as a reference shareholder (stake of just over 30%), plans to merge with its Norway-listed competitor Subsea 7, thereby creating the largest European player in the sector.
The purpose of this potential merger would be to better deal with an ever-challenging offshore market by reducing supply, and potentially enabling increases in prices charged.
The Saipem share is currently up over 2%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The purpose of this potential merger would be to better deal with an ever-challenging offshore market by reducing supply, and potentially enabling increases in prices charged.
The Saipem share is currently up over 2%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.