Saipem and Subsea7 Merge to Form Saipem7 with $45 Billion Backlog
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.