Saipem, Subsea 7 Discussed Tie Up a Few Years Ago

Wednesday, July 25, 2018

Italian oil services company Saipem was in talks with rival Subsea 7 several years ago over a possible tie up but negotiations fell through, the group's CEO said on Wednesday.

"Some 3-4 years ago, before I became CEO there were contacts and talks that did not work out," Stefano Cao said on a call on second quarter results.

Cao said there was nothing in this direction today.

(Reporting by Stephen Jewkes, editing by Giulia Segreti)

Categories: People & Company News Offshore Mergers & Acquisitions Offshore Energy

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