we receive e we publish the following statement rotogravure spread by CDP.
CDP Equity participates in the capital increase announced by Trevi Finanziaria Industriale S.p.A. The Board of Directors of the CDP subsidiary has approved the resolution that commits it to vote in favor at Trevi's Extraordinary Shareholders' Meeting on the proposed capital increase of 100 million euros, and to subscribe to its share, equal to 21,3 million euros.
CDP Equity's commitment, led by CEO Fabio Barchiesi, could, however, be even more significant. If some shareholders were to decline the capital increase request, CDP Equity itself could exercise its pre-emptive right on the unsubscribed shares, i.e., the shares not yet acquired. This would increase its stake in Trevi from the current 21,3%, but still remain below the 30% threshold that would require a mandatory public tender offer.
Trevi is a leading global player in special foundations and underground engineering. The sector is characterized by high barriers to entry due to the highly specialized skills and significant investment required. Over the past five years, Trevi has embarked on a successful restructuring process, focusing on selecting more profitable projects and improving operational efficiency. As a result, the company has the potential to become a platform for bringing together highly specialized companies in a highly fragmented Italian construction sector with ample scope for consolidation through targeted acquisitions. This is a path that CDP Equity clearly intends to support.
