Webuild receives Consob approval for takeover bid of Trevi

Consob has granted final approval to the information prospectus for a voluntary and total takeover bid (OPA) launched by Webuild for Trevi – Finanziaria Industriale, an Italian underground engineering firm. Led by Pietro Salini, Webuild’s proposal offers 4.50 euros per share in an all-cash deal valued at approximately 295 million euros.

This regulatory green light comes amid a competitive struggle for control. ICOP, a company from the Petrucco family, had previously launched a competing exchange offer (OPS). However, the Board of Directors of Trevi unanimously rejected ICOP’s approach, citing concerns regarding financial consistency and the feasibility of the proposed industrial synergies. The board argued that any potential benefits would stem from Trevi’s existing international platform and technical expertise rather than incremental value from ICOP.