Saipem-Subsea7 Brazil clearance set to be challenged over analysis inconsistencies
By Flavia Fortes ( July 6, 2026, 17:08 GMT | Comment) -- Critics of the approval of Saipem's proposed acquisition of Subsea7 in Brazil argue the Administrative Council for Economic Defense's investigatory unit relied on internally inconsistent reasoning to justify the unconditional clearance, MLex has learned. The alleged inconsistencies are expected to form the centerpiece of the appeal to CADE's Tribunal. An examination of the decision by MLex also identified several instances in which the Superintendence's ultimate conclusions are difficult to reconcile with its own factual findings, raising questions about whether the evidence on the record supports the unconditional approval. Critics of the approval of Saipem's proposed acquisition of Subsea7 in Brazil argue the Administrative Council for Economic Defense's investigatory unit relied on internally inconsistent reasoning to justify the unconditional clearance, MLex has learned....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.