MILAN – It would be an oil services giant: Saipem would be considering a union with its rival Subsea 7.The agency reports it Bloomberg citing some sources. Subsea 7, after an increase in shares on the Oslo Stock Exchange in the order of 15% this year, has reached a market capitalization of 3.2 billion dollars. Instead Saipem, listed in Piazza Affari, according to the market is worth 4.4 billion euros or 4.85 billion dollars at current exchange rates (follow Saipem live).
No final decision – the agency recalls – has been taken and there is no certainty that the transaction will be closed. However, this is a complicated moment for the sector, which is affected by the drop in crude oil prices.It should also be remembered that if it were to go it would be one of the major deals in the history of services to the oil industry: we need to go back to the acquisition of 7.64 billion dollars from Dresser-Rand's Siemens in 2014. This year, already Eni (which is Saipem's main shareholder) has entered into an agreement with Omv to acquire a share of 5.8 billion in the Abu Dhabi National Oil Co. Since 2000, Eni has put ten billion-sized operations in line.
No final decision – the agency recalls – has been taken and there is no certainty that the transaction will be closed. However, this is a complicated moment for the sector, which is affected by the drop in crude oil prices.It should also be remembered that if it were to go it would be one of the major deals in the history of services to the oil industry: we need to go back to the acquisition of 7.64 billion dollars from Dresser-Rand's Siemens in 2014. This year, already Eni (which is Saipem's main shareholder) has entered into an agreement with Omv to acquire a share of 5.8 billion in the Abu Dhabi National Oil Co. Since 2000, Eni has put ten billion-sized operations in line.
"The Republic will always fight in defense of freedom of information, for its readers and for all those who care about the principles of democracy and civil society"
Carlo VerdelliSUBSCRIBE TO REPUBLIC
<! –
We are not a party, we do not seek consensus, we do not receive public funding, but we are standing thanks to the readers who buy us at the newsstands every morning, look at our website or subscribe to Rep :.
If you are interested in continuing to listen to another bell, perhaps imperfect and some irritating days, continue to do so with conviction.
Support journalism
Subscribe to the Republic
-> <! –
->
- Topics:
- Saipem
- Petroleum
Source link
https://www.repubblica.it/economia/finanza/2019/11/15/news/saipem_studia_la_maxi-fusione_con_la_rivale-241154902/
Dmca
