Saipem biggest private investor votes for 3.5 bln euro cash call

December 2, 2015 12:05 PM

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MILAN Dec 2 Saipem's biggest private shareholder Dodge & Cox voted on Wednesday in favour of a 3.5 billion euro ($3.7 billion) capital increase designed to strengthen the Italian oil contractor's balance sheet.

The U.S. investment company currently owns more than 12 percent of Saipem.

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