Saipem, Subsea7 announce merger plans to form Saipem7 in deal worth billions
Saipem and Subsea7 have announced a memorandum of understanding (MoU) has been reached for a likely mega-merger to join the two companies. The entity will be renamed Saipem7, and the deal is expected to deliver significant value to shareholders of both Saipem and Subsea7. Annual synergies of approximately €300 million are expected to be achieved in the third year after completion, with merger completion anticipated in the second-half of 2026. The transaction value is estimated at around $4.6 billion.
Both Saipem and Subsea7 noted that the merger will provide them with highly complementary geographical footprints, competencies and capabilities, vessel fleets and technologies that will benefit their combined global client base.
Saipem and Subsea7 shareholders will own 50% each of the share capital of the combined entity.
