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Saipem S.p.A. ADR (SAAYY)

- Grey Market
  • Nov. 18, 2013, 9:41 AM
    • Seadrill (SDRL) reportedly is interested in buying Saipem's offshore drilling business in a deal that could cost as much as €3.9B.
    • Such a deal could be positive for both Saipem (SAPMY, SAAYY) and parent Eni (E) by cutting their debt levels, analysts say.
    • Proceeds from SDRL’s planned New York listing of its 74%-owned North Atlantic Drilling subsidiary could provide the funding for such an acquisition.
    | 9 Comments
  • Jun. 27, 2013, 8:15 AM
    European oil service companies cite issues in Brazil - Petrobras' (PBR) negotiating tactics and government demands - for contributing to a spate of earnings disappointments. The trend continues as Subsea 7 (SUBCY.PK) warns it will miss its 2013 profit forecast due to cost $250M-$300M in overruns at its Guará-Lula project offshore Brazil.
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Country: Italy