Brazil's CADE conditionally approves Subsea7-Saipem combination
Bitget2026/11/04 15:17- Brazil's CADE cleared Subsea7's proposed combination with Saipem to create Saipem7 on November 4, 2026, subject to divestment commitments.
- The companies committed to divest Seven Borealis to address competition concerns, with provisions protecting continuity of existing backlog execution.
- The divestiture is not expected to materially affect the deal's strategic rationale; previously announced synergies remain unchanged.
- Completion remains subject to satisfaction or waiver of the remaining merger conditions.
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