The Milan Court of Appeal on Thursday upheld a fine and a confiscation order totaling ?25.13 million ($28.6 million) against the Italian oil services company Saipem, part owned by Eni, in respect of offenses allegedly committed in Nigeria over a decade ago. The court dismissed Saipem's appeal against a previous ruling by the Court of Milan, which in July 2013 ordered Saipem to pay ?600,000 as well as the confiscation of the deposit of ?24,530,580 paid by Snamprogetti Netherlands to the Milan Public Prosecutor's office in February 2011 (IOD Jul.12'13). In a statement, Saipem said it will evaluate the reasons for the Court of Appeal's decision and will appeal to the Italian Court of Cassation as it believes there are no grounds for holding it liable.
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