European Commission launches investigation into proposed Saipem and Subsea7 merger
The European Commission has initiated an in-depth probe into the proposed merger between Saipem and Subsea7, citing potential concerns regarding market competition in offshore engineering.
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According to the European Commission, an in-depth investigation has been opened under the EU Merger Regulation to examine the proposed consolidation of Saipem and Subsea7. The combined entity is intended to operate under the name Saipem7.
The Commission stated that it is concerned the merger could significantly impact effective competition within certain offshore engineering and construction service markets. The investigation aims to determine whether the proposed concentration will adhere to European competition standards.
Source: European Commission. Read the original report ↗
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This brief is based on reporting by European Commission.supports: European Commission