Deals
Italy’s Saipem to Consider Combining With Rival Subsea 7
- Deal would be one of Europe’s biggest for sector if completed
- Combination would help companies bulk up to weather downturn
Photographer: Simon Dawson/Bloomberg
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Saipem SpA is considering a combination with rival Subsea 7 SA in what could rank as one of the European oil services industry’s biggest-ever deals, people with knowledge of the matter said.
The Italian company is pursuing a potential transaction with Norway-listed Subsea 7 as it seeks to bulk up and weather an industry downturn, according to the people, who asked not to be identified because the information is private.