#52026M12236EU merger review: Saipem and Subsea7
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
Saipem and Subsea7 plan to merge, creating a larger engineering and construction group focused on offshore energy projects. The European Commission has opened its standard merger review process and is inviting comments from interested parties before deciding whether the deal falls under EU merger rules and whether it raises competition concerns. The notice mainly affects energy companies, offshore wind developers, oil and gas operators, suppliers, competitors, and customers in subsea engineering, offshore construction, maintenance, and decommissioning services. Interested parties have 10 days from publication to submit observations to the Commission, using case reference M.12236.
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Key Changes
- Saipem and Subsea7 have notified the European Commission of a planned full merger.
- The Commission is carrying out a preliminary merger review and has not yet made a final decision on jurisdiction or competition issues.
- Interested third parties can submit comments within 10 days of publication, using case reference M.12236.
Obligations
What this law requires
Interested third parties wishing to comment on the proposed Saipem/Subsea7 concentration must submit their observations to the European Commission so that they reach the Commission no later than 10 days after publication of the notice.
Any observations submitted to the Commission regarding the proposed concentration must specify the reference “M.12236 – SAIPEM / SUBSEA7”.