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Enter Symbol:
Rating: SAPMY

Saipem SpA(ADR) (OTCBB: SAPMY) upgraded to Neutral by Natixis Bleichroeder

Tuesday,  May 12, 2015  10:25 AM ET by Betsy O'Brien Harrison

Natixis Bleichroeder upgraded Saipem SpA(ADR) (OTCBB: SAPMY) to Neutral. Previously
Natixis Bleichroeder upgraded to Saipem SpA(ADR) (OTCBB: SAPMY) to Reduce on 06/17/2013, when the stock price was $9.79.

Saipem SpA is an Italy-based company active as contractor in the oil and gas industry in remote areas and deepwater. It supplies engineering, procurement, project management and construction services with the design and the execution of large-scale offshore and onshore projects. The Company is organized into two business units: engineering & construction and drilling. The Company provides Engineering Procurement and Consulting/ Engineering Procurement and Consulting Installation EPC/EPCI services to the oil industry both onshore and offshore. Saipem is a global contractor, with presence in emerging areas, such as West Africa, North Africa, Central Asia, Middle East, and South East Asia. Among its direct and indirect subsidiaries there are: Servizi Energia Italia SpA, Andromeda Consultoria Tecnica e Rapresentacoes Ltda, BOS Investment Ltd, Construction Saipem Canada Inc and Ersai Caspian Contractor Llc.

Natixis Bleichroeder , a US-registered broker-dealer and subsidiary of Natixis, provides its clients with corporate and investment banking solutions. Natixis is the corporate, investment and financial services arm of Groupe BPCE, France's second-largest banking group. With around 22,000 employees, Natixis specializes in three main business lines: Corporate and Investment Banking, Investment Solutions (asset management, private banking, insurance, private equity) and Specialized Financial Services.

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