Intesa Sanpaolo financial advisor to Eni in the Saipem-Subsea7 agreement

The image accompanying the News on Intesa Sanpaolo, which, through the IMI Corporate & Investment Banking Division, assisted ENI as financial advisor in the agreement between Saipem and Subsea7 on the main terms of a possible merger of the two companies, portrays a woman in a shirt, smiling, sitting at a meeting table and surrounded by other people, captured in the act of shaking hands with a man in a jacket sitting at the same table.

Intesa Sanpaolo, through its IMI Corporate & Investment Banking Division, assisted Eni as financial advisor in the agreement between Saipem and Subsea7 on the main terms of a possible merger of the two companies: the transaction would create a global leader in the energy services sector with an aggregate order book of €43 billion.

Eni and CDP Equity, Saipem's controlling shareholders, have signed a memorandum of understanding with Siem Industries, Subsea7's reference shareholder, aimed at defining, among other things, their commitment to provide support to the transaction, as well as the principles that will regulate the governance of the incorporating company, Saipem, under a shareholders' agreement to be signed between the three parties.

The merger, which will be structured as a merger of equals with a fixed 50/50 exchange ratio, will see Saipem as the merging company maintain its registered office and listing market in Italy, as well as being listed in Norway upon completion of the merger.

The completion of the transaction will result in the creation of the global market leader in the Subsea and Offshore E&C sector with revenues of approximately €20 billion and will enhance the new company's competitive profile and strengthen its capital structure.

The Intesa Sanpaolo Group, led by CEO Carlo Messina, thus confirms its role in supporting large industrial operations such as this one, aimed at creating international leaders in their sectors.

Last updated 3 March 2025 at 15:27:35