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Subsea 7 is an offshore construction company for the oil and gas industry. The company provides deepwater plumbing services like installing subsea equipment and laying offshore pipelines. Subsea 7 appears cheap at EV/Adjusted EBITDA of ~2x. Subsea 7 Chairman Kristian Siem, owns 21% of the stock, has proven to be a good capital allocator. The ADR trades under the symbol SUBCY. Please see our speaker’s article in Barron’s