Webuild Rises Stake in Trevi to 29%, Waives Some Conditions on Tender Offer

12:12 AM EDT, 10/19/2026 (MT Newswires) -- Webuild (WBD.MI) waived certain conditions on its voluntary tender offer for all of Trevi - Finanziaria Industriale's (TFIN.MI) shares after raising its holding to 29.32% of the underground engineering company's share capital and voting rights. The infrastructure construction company said on Oct. 16 that it bought 347,240 more Trevi shares at 5.165 euros each, bringing its holding to 19,225,744 shares. The offer competes with an exchange offer from construction and engineering group Icop (ICOP.MI). Webuild dropped a condition requiring that no events prevent it from proceeding with the offer, and amended one covering regulatory or judicial measures that could limit it. The only remaining conditions are that Webuild reaches more than 50% of voting rights, receives the required regulatory approvals, and that Trevi takes no extraordinary or defensive measures.