A Review of the Nigerian Energy Industry

Eni ‘in touch’ with CDP over Saipem

04 September 2015, News Wires – Italian oil and gas group Eni is in touch with cash-rich state holding Cassa Depositi e Prestiti (CDP) as it looks for ways to take the debt of its Saipem unit off its balance sheet, Eni’s chairwoman reportedly said on Friday.

ENI
ENI

“Our aim is to de-consolidate Saipem’s debt, we’re studying several options,” Emma Marcegaglia told reporters on the sidelines of the Ambrosetti business forum.

One of the solutions reported to be under consideration was that CDP, already the key shareholder in Eni, could take a direct stake in Saipem, Reuters reported.

“Let’s see. We’re just at the beginning, there are several contacts under way,” she said when asked about the role CDP could play in relation to Saipem following the leadership appointments of former Goldman Sachs banker Claudio Costamagna and the former chief or BNP Paribas’ Italian unit, Fabio Gallia.

(Upstream)

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