Saipem-Subsea7 merger faces Australian Phase 2 review amid Brazil scrutiny
By Saloni Sinha ( July 3, 2026, 06:26 GMT | Insight) -- Saipem’s proposed merger with Subsea7 has been referred to an in-depth Phase 2 review in Australia, just days after a third party moved to appeal a Brazilian watchdog's unconditional clearance of the global deal. In a statement on Friday, the Australian Competition & Consumer Commission said that the acquisition could substantially lessen competition in the supply of certain subsea infrastructure that “connects subsea wells and production systems to surface infrastructure, services which are critical to Australian offshore oil and gas projects.”Energy services company Saipem’s proposed merger with Subsea7 has been referred to an in-depth Phase 2 review in Australia, just days after a third party moved to appeal a Brazilian watchdog's unconditional clearance of the global deal....
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