Subsea7 to Merge With Saipem, Create Offshore Energy Services Giant [Yahoo! Finance]
ENI S.p.A. (E)
US:NYSE Investor Relations:
eni.com/en_it/investors.page
Company Research
Source: Yahoo! Finance
merger with Saipem S.p.A, an Italian oilfield services firm. The agreement has been reached in principle via a Memorandum of Understanding (MoU). The MoU has been signed by Siem Industries, a key shareholder of Subsea7, and CDP Equity and Eni S.p.A, reference shareholders of Saipem. Per Reuters, Eni had engaged in discussions about a possible collaboration with Subsea7 years ago. However, the companies could not reach an agreement back then. By signing the MoU, these key shareholders demonstrate their support for the deal. The combined entity shall be listed on the Milan as well as the Oslo stock exchange. Shareholder Impact & Dividend Distribution The proposed merger deal is anticipated to create a leading player in the global energy services market. The combined entity will be renamed as Saipem7. The deal is estimated to have a valuation of $4.63 billion. Saipem7 will boast a combined backlog of approximately €43 million, per Subsea7. Shareholders of Subsea7 and Saipem will ho
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E
News
- Eni and BlackRock's Global Infrastructure Partners Finalize CCS Deal [Yahoo! Finance]Yahoo! Finance
- TechnipFMC Awarded Substantial Subsea Contract for the Coral North FLNG Development Offshore Mozambique [Yahoo! Finance]Yahoo! Finance
- ENI (NYSE:E) had its "overweight" rating reaffirmed by analysts at Barclays PLC.MarketBeat
- ENI (NYSE:E) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to an "underweight" rating.MarketBeat
- ENI (NYSE:E) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating.MarketBeat
E
Sec Filings
- 12/17/25 - Form 6-K
- 12/11/25 - Form 6-K
- 12/10/25 - Form 6-K
- E's page on the SEC website