Commission clears Eni/Saipem deal

The sale of a stake in oil and gas contractor Saipem by Italian energy group Eni has been cleared by the European Commission after satisfying antitrust conditions.

Eni agreed to sell a 12.5% stake in Saipem last October to Fondo Strategico Italiano for around €463 million.

Eni’s total share in Saipem has been 42.93%, in partnership with Dodge & Cox (12.1%) and the People’s Bank of China (2.035%).