The Italian government has decided to approve the merger plan, on the condition that Saipem, in which the state holds nearly 13%, gives priority to Italy’s energy infrastructure and keeps all activities considered strategic in Italy, MF reported today, citing a government decision from last week.
Based on end-2024 financial results, the merged company will have approximately EUR 21 billion in revenues and more than EUR 2 billion in EBITDA, and will command a backlog of around EUR 43 billion as of the end of Q1 2025. Annual free cash flow is expected to exceed EUR 800 million.