Italian energy contractor Saipem, which has agreed to merge with Norwegian rival Subsea 7, said on Tuesday it would resume paying a dividend after a four-year break. The group said it would pay 333 million euros ($350 million) in dividends this year.

Italian offshore services firm Saipem plans to merge with Norwegian rival Subsea7 in an all-share deal valued at $4.6 million, the companies announced. The combined company, to be named Saipem7, would

Energy services firms Saipem and Subsea7 have reached an agreement on the key terms for possible merger of the two companies under one unit to be named