Back to today’s briefing

Story perspectives

Saipem and Subsea7 Merge to Create €4.63 Billion Saipem7

2/24/2025

50 3

Summary

Story summary

Saipem and Subsea7 are merging to form Saipem7, valued at €4.63 billion.
An extraordinary dividend of €450 million will be paid by Subsea7 before the merger completion.
The headquarters of the new entity will be in Milan, emphasizing stakeholder governance.
Eni and CDP Equity will appoint the CEO; Siem Industries will select the chairman.
The merger is expected to finalize in late 2026, subject to regulatory approvals.

History

Historical Context

The merger of Saipem and Subsea7 echoes Italy's post-war industrial consolidation, notably the 1950s economic miracle. Just as Eni emerged as a key player then, today's merger aims to strengthen competitiveness in a global market, reflecting ongoing trends of collaboration in the energy sector.

1 of 2

Story summary

Saipem and Subsea7 are merging to form Saipem7, valued at €4.63 billion.
An extraordinary dividend of €450 million will be paid by Subsea7 before the merger completion.
The headquarters of the new entity will be in Milan, emphasizing stakeholder governance.
Eni and CDP Equity will appoint the CEO; Siem Industries will select the chairman.
The merger is expected to finalize in late 2026, subject to regulatory approvals.

1 / 2