Offshore Services Giant Proposed in $4.7B Deal to Merge Saipem and Subsea 7

Two of the leaders in the offshore sector for energy, Saipem and Subsea 7 entered into an understanding that is designed to lead to a merger of equally to create an offshore services giant. The deal valued at nearly $4.7 billion would combine the companies to create a global presence with a fleet of more than 60 construction vessels and 45,000 employees.

The companies highlighted that they have highly complementary geographical footprints, competencies and capabilities, vessel fleets, and technologies that will benefit the global client base. They believe a combination would also unlock annual synergies of approximately €300 million to be achieved in the third ye…