Latest news with #SaipemSpA
Business Upturn
5 days ago
- Business
- Business Upturn
Subsea 7 S.A. Notice of Extraordinary General Meeting
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW Luxembourg – 24 July 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) (the Company) today published and distributed to eligible holders of common shares the notice of meeting for an extraordinary general meeting of shareholders (the EGM). The purpose of the EGM is to consider the proposed combination between Subsea7 and Saipem SpA. The EGM is scheduled to take place at 15:00 (local time) on 25 September 2025 at 5, place Winston Churchill, L-1340 Luxembourg. The holders of common shares on record at the close of business on 11 September 2025 will be entitled to vote. The deadline for submission of votes for holders of common shares is 19 September 2025. The notice of meeting and supporting materials, including the common merger plan, the report of the board of directors with respect to the common merger plan, and the reports of the respective independent experts of the Company and Saipem SpA, will shortly be available on the Company's website, The EGM agenda includes the proposal to distribute a dividend of €450m, equating to approximately NOK 18.00 per share as at today's date. This distribution is in accordance with the terms of the merger with Saipem S.p.A., conditional on completion of the merger and expected to be paid immediately before the proposed merger effective date. In addition, the EGM agenda includes a proposal to distribute a special dividend of €105m, equating to approximately NOK 4.15 per share, as at today's date. This distribution is related to a permitted business divestment in accordance with the merger agreement with Saipem SpA. The distribution is expected to be paid after closing of the relevant transaction or (if earlier) immediately before the proposed merger effective date. The key dates relating to both proposed dividends shall be published as soon as these dates are fixed. ******************************************************************************* Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry's partner and employer of choice in delivering the efficient offshore solutions the world needs. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************* Contact for investment community enquiries:Katherine TonksInvestor Relations DirectorTel +44 20 8210 5568 [email protected]
Business Insider
09-07-2025
- Business
- Business Insider
Berenberg Bank Reaffirms Their Buy Rating on Saipem SpA (SPEA)
Berenberg Bank analyst maintained a Buy rating on Saipem SpA yesterday and set a price target of €3.40. The company's shares closed last Monday at €2.37. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Saipem SpA has an analyst consensus of Strong Buy, with a price target consensus of €3.25, implying a 36.96% upside from current levels. In a report released on July 1, Kepler Capital also maintained a Buy rating on the stock with a €3.60 price target. The company has a one-year high of €2.75 and a one-year low of €1.65. Currently, Saipem SpA has an average volume of 4,187. Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPEA in relation to earlier this year.
Business Insider
27-06-2025
- Business
- Business Insider
Saipem SpA (SPEA) Receives a Buy from RBC Capital
RBC Capital analyst Victoria Mcculloch maintained a Buy rating on Saipem SpA (SPEA – Research Report) yesterday and set a price target of €3.40. The company's shares closed last Tuesday at €2.30. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Mcculloch covers the Energy sector, focusing on stocks such as Aker BP ASA, TechnipFMC, and Aker Solutions ASA. According to TipRanks, Mcculloch has an average return of 9.0% and a 52.04% success rate on recommended stocks. Currently, the analyst consensus on Saipem SpA is a Strong Buy with an average price target of €3.25, a 41.12% upside from current levels. In a report released on June 24, Kepler Capital also maintained a Buy rating on the stock with a €3.60 price target. SPEA market cap is currently €4.52B and has a P/E ratio of 14.81. Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPEA in relation to earlier this year.
Business Insider
26-06-2025
- Business
- Business Insider
Kepler Capital Sticks to Their Buy Rating for Saipem SpA (SPEA)
Kepler Capital analyst Kevin Roger maintained a Buy rating on Saipem SpA (SPEA – Research Report) on June 24 and set a price target of €3.60. The company's shares closed last Monday at €2.43. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Roger is a 5-star analyst with an average return of 14.6% and a 65.33% success rate. Roger covers the Energy sector, focusing on stocks such as Saipem SpA, Subsea 7, and Gaztransport et technigaz. Currently, the analyst consensus on Saipem SpA is a Strong Buy with an average price target of €3.25. The company has a one-year high of €2.75 and a one-year low of €1.65. Currently, Saipem SpA has an average volume of 3,771. Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPEA in relation to earlier this year.
Bloomberg
24-02-2025
- Business
- Bloomberg
European M&A Shows Signs of Life With $10 Billion Deal Flurry
European deals are finally starting to show signs of life, with more than $10 billion of takeovers announced at the start of this week. Italian drilling specialist Saipem SpA led the charge, saying over the weekend it plans to combine with Subsea 7 SA in a transaction valuing the Oslo-listed firm at €4.65 billion ($4.9 billion). Tech investor Prosus NV then announced Monday it will buy food delivery group Just Eat NV for €4.1 billion. In the UK, National Grid Plc said it will sell a renewables business to Brookfield Asset Management Ltd. for $1.7 billion.
