Italy: Saipem Merger to Become Effective January 2012

Italy Saipem Merger to Become Effective January ,2012

Saipem announces that the merger agreement incorporating Saipem Energy Services into Saipem S.p.A. has been filed at the relevant business register.

Saipem Energy Services offers engineering and project management services in addition to FPSO (Floating, Production Storage and Offloading) business management services.  The merger’s purpose is to rationalise the holding structure of Saipem’s Italian Group Companies, through the integration of Saipem Energy Services’ offshore competencies into Saipem’s Engineering and Construction Business Unit, maximising all possible industrial synergies and providing financial and operational benefits.

Saipem S.p.A. holds 100% of the share capital of the company to be merged, which allows for the application of the streamlined merger procedure provided for by art. 2505 of the Italian Civil Code and By-laws of both companies, in accordance with which the merger is to be approved by the companies’ respective Boards of Directors.

From a legal, accounting and fiscal standpoint, the merger will be effective from January 1, 2012.

Saipem is organised into two Business Units: Engineering & Construction and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetisation and heavy oil exploitation.

Source: Saipem, November 4, 2011

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply