Press Release

White & Case Advises Saipem on Its €3.5 Billion Rights Issue

Global law firm White & Case LLP advised Saipem S.p.A. on the US and English law aspects of its approximately €3.5 billion share capital increase through the issue of new shares offered to shareholders and private placements to institutional investors outside Italy.

Saipem is a leading provider of onshore and offshore engineering, procurement, construction and drilling services to oil and gas companies worldwide. Based in Milan, Saipem operates on a variety of complex projects in more than 60 countries around the world.

The offer was partially guaranteed by a syndicate of bankers led by J.P. Morgan and Goldman Sachs International, as joint global coordinators, and Banca IMI, Citigroup, Deutsche Bank, Mediobanca and UniCredit Corporate and Investment Banking as joint bookrunners.

The White & Case team which advised on the transaction was led by partners Michael Immordino (Milan & London), Ferigo Foscari (Milan) and Ray Simon (New York) and the associate team of Robert Becker, Patrick Meson (both Milan) and Shea Thompson (New York) and lawyers Luca Bella, Luca Valerio Silviani, Gioia Stendardo and Dalila Delorenzi (all Milan).

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