• Brazil's CADE cleared Subsea7's proposed combination with Saipem to create Saipem7 on November 4, 2026, subject to divestment commitments.
• The companies committed to divest Seven Borealis to address competition concerns, with provisions protecting continuity of existing backlog execution.
• The divestiture is not expected to materially affect the deal's strategic rationale; previously announced synergies remain unchanged.
• Completion remains subject to satisfaction or waiver of the remaining merger conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Subsea 7 SA published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202611041016OMX_____CNEWS_EN_GNW1001301810_en) on November 04, 2026, and is solely responsible for the information contained therein.