Webuild lifts Trevi stake with €47.1M share purchase

What's the deal? WebuildDealroom has a profile for this one. Try Dealroom → has agreed to buy 9.1 million shares in Trevi Finanziaria IndustrialeDealroom has a profile for this one. Try Dealroom → — about 13.9% of the company — for €47.1 million, part of its voluntary full takeover bid for the Italian engineering firm.

The shares were purchased at €5.165 each from Praude Asset ManagementDealroom has a profile for this one. Try Dealroom →, Praude Funds ICAVDealroom has a profile for this one. Try Dealroom →, and Veniero HoldingsDealroom has a profile for this one. Try Dealroom →, via Intermonte SIMDealroom has a profile for this one. Try Dealroom →. The deal lifts Webuild's holding to 12.4 million Trevi shares, or roughly 18.9% of the share capital and voting rights.

Why it matters: Because Webuild paid above its original offer price, all shareholders accepting the bid — including those who already did — will now receive €5.165 per share.

What's next? Some 53.2 million Trevi shares remain subject to the offer, which carries a maximum outlay of €274.6 million.

The signal: The step-up marks Webuild's steady push toward full control of Trevi, consolidating its grip on a specialist player in Italy's engineering and infrastructure sector.

Read more: marketscreener.com

Image credit: Alexandre Prevot