Webuild launches takeover bid for Trevi: acceptance period begins on 28 September
The deadline has been set for 20 November. The proposed consideration is 4.50 euros per share
The registration period for the full takeover bid launched by Webuild on Trevi will commence at 8.30 am on 28 September and end at 5.30 pm on 20 November, unless extended. This is set out in the Offer Document published by Webuild following approval by Consob on 15 September. Payment of the consideration for each Trevi ordinary share tendered in response to the offer will be made on 27 November, unless the Tender Period is extended.
The offer, as the document states, provides for a ‘fixed and entirely cash’ consideration of €4.50 per share, representing a premium of approximately 30 per cent compared with the official price on the reference date, without any exposure for participating shareholders to future financial market performance. This offer is fully backed by a loan agreement designed to cover the cost of the purchase of all the shares, as well as the possible refinancing of Trevi’s debt, on which the Webuild offer places no conditions.
Furthermore, the integration of specialist expertise in special foundations into an industrial platform will enable Trevi to continue and expand its business, whilst also gaining direct access to the Webuild Group’s network, which has been present in 50 countries for over 120 years. Finally, joining the Webuild Group would open up a new path to growth for Trevi, its people and its know-how, whilst preserving its identity, its headquarters in Italia and its wealth of technical, design and managerial expertise. Trevi will continue to maintain an open approach to the market, offering its high value-added services to the sector as a whole.
