FilingReader Intelligence

Saipem and Subsea7 sign merger creating €21bn energy leader

July 23, 2025 at 10:49 PM UTCBy FilingReader AI

Saipem and Subsea7 signed a binding merger agreement creating Saipem7. The combined entity will have €21 billion revenue, over €2 billion EBITDA, and a €43 billion backlog.

Subsea7 shareholders will receive 6.688 new Saipem shares per share plus a €450 million extraordinary dividend. The merger expects €300 million annual synergies and completion in H2 2026.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

OSL:SUBCOslo Stock Exchange

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