Rinova BidCo's tender offer for Reway nears close with 15.5% of shares in
What's the deal? Rinova BidCo has launched a mandatory full public tender offer for all circulating ordinary shares of Reway GroupDealroom has a profile for this one. Try Dealroom →, an Italian infrastructure and construction company listed in Milan. The offer covers a maximum of 6,451,000 shares, excluding those Rinova already owns.
Where it stands: By 16 October 2026, shareholders had tendered 1,002,500 shares since the period opened on 5 October. That equals 15.540% of the shares targeted by the offer, or 2.583% of Reway's share capital.
Why now? The offer is mandatory under Italian securities law and Reway's bylaws, reflecting Rinova's push to consolidate control over the company. Momentum has built quickly: 954,500 shares were tendered in the second week alone, from 12 to 16 October.
What's next? The tender period is scheduled to close on 23 October 2026, unless extended under applicable regulations.
By the numbers: Reway carries a market capitalisation of €386.1M and trades under supervision of CONSOB, the Italian securities regulator. The most recent analyst rating on the stock is a buy, with a €11.50 price target.
The signal: A mandatory full tender offer signals a bidder intent on full control of a listed infrastructure player, a sector drawing steady interest from strategic investors in Italy's public markets.
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