Brazil clears Subsea7-Saipem merger without conditions
CADE approves the tie-up of two offshore engineering giants despite oil-company concerns over market concentration
Brazil's antitrust authority CADE has approved the proposed merger of offshore engineering contractors Saipem and Subsea7 without imposing any restrictions, a milestone for a deal that would bring together two of the sector's biggest players.
The merger is intended to create a stronger group able to deliver comprehensive engineering, procurement, construction and installation services worldwide. While the decision could still be appealed by interested parties, the clearance marks meaningful progress toward completing the transaction.
The tie-up has drawn attention across the energy industry, with several major oil companies raising concerns that the combined business could gain significant bargaining power in offshore project execution. Despite those objections, Brazil's competition regulator concluded its review without requiring any conditions.
