European Commission - Daily News
Brussels, 12 January 2016
The European Commission has approved under the EU Merger Regulation the acquisition of joint control of Saipem S.p.A. by ENI S.p.A. and Fondo Strategico Italiano S.p.A. ("FSI"), all of Italy.
Saipem is active globally in engineering and construction for the oil and gas industry. ENI is active globally in the whole oil and gas value chain, as well as in the generation and sale of electricity, the petrochemical and engineering sectors. FSI is a holding company investing directly or indirectly in companies of “significant national interest” to Italy.
The Commission concluded that the proposed transaction will raise no competition concerns, given the significant number of alternative competitors active on all markets concerned. The transaction was examined under the normal merger review procedure.
(For more information: Lucía Caudet – Tel. +32 229 56182; Carolina Luna Gordo – Tel.: +32 229 68386)
Source: Europa.eu (Copyright European Commission)