Saipem sales process likely to be launched after summer
A formal sales process for Saipem, the listed, Italian, oil industry services group controlled by listed, petroleum giant Eni, is likely to take place after the summer, Italian-language daily Il Sole 24 Ore reported.
The article cited sources with knowledge of the dossier who said that while no formal sale was as yet underway, such an operation would be launched after the summer.
The report claimed that a mandate had been awarded to Goldman Sachs by previous Eni CEO Paolo Scaroni to find a buyer. The report said that Goldman Sachs would still be retained in this capacity but another financial advisor would also be chosen to work alongside if a decision on Saipem's sale is made.
The item added that listed, Norwegian groups Subsea 7 and Sea Drill, Russian oil giant Rosneft, and Dubai-based oil services group Arabtec are believed to be interested in Saipem.
The item noted that Eni holds a 43% stake in Saipem which has a market cap of EUR 8.06bn.
Source Il Sole 24 Ore