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Italy's Saipem Weighs Capital Boost After Drilling Specialist Issued Profit Warning

  • Group may seek 1 billion-euro to 1.5 billion-euro injection
  • Italian drilling specialist cites pandemic, supply-chain costs

Saipem SpA is evaluating a capital increase after issuing a profit warning and saying it will talk to its creditors, people familiar with the matter said. 

The oil drilling specialist is looking at a range of options, said the people, who asked not to be named as the discussions are private. Saipem could consider a capital injection of 1 billion euros to 1.5 billion euros ($1.7 billion), the people said. Discussions are preliminary and no final decision has been taken on whether to opt for the capital increase nor on its potential size, they said.