Saipem and Subsea 7 have finalized their merger terms, set to create a leading offshore services entity, Saipem7, by mid-2026. With a 50-50 ownership structure, the merger is expected to generate €21 billion in revenue and €2 billion in EBITDA, supported by key shareholders Eni and CDP Equity.
Saipem and Subsea7 have announced plans for a possible merger, creating a new entity named Saipem7. The combined company would have a backlog of over $45 billion, with shareholders from both companies owning 50% each. The revenue of Saipem7 is projected to be around $20.9 billion, with core earnings exceeding $2 billion.
A vessel collided with the giant semisubmersible crane ship Saipem 7000 in the Port of Rotterdam, causing a worker to fall into the water and remain missing. Local authorities are conducting a search and recovery effort, with a multiagency investigation expected to begin. Saipem 7000 is one of the world’s largest crane ships.
