Milan, May 14, 2021 - "We are proud to have successfully concluded a transaction that brings together financial and human capital, experience and innovation to position Webuild Group among the major international players. The integration of Astaldi creates real value for Italy as it will help relaunch the development of sustainable infrastructure, the economy and employment during this period of emergency. With this acquisition, we have candidated ourselves to kickstart the country as catalysts and promoters of our sector and its great capacity to design and build sustainable infrastructure”. These were the words spoken by Webuild CEO Pietro Salini at the M&A Award 2021, the 17th edition of the event organized by KPMG and Fineurop Soditic, dedicated to the best transactions of the Italian M&A market.

It put the spotlight on Astaldi's integration into Webuild Group as it is deemed consistent with the concept of finance supporting corporate growth and virtuous value creation paths. “Despite the pandemic, Webuild’s new strength has allowed the Group to guarantee the operating continuity of Astaldi, a company with great expertise, as well as of strategic construction sites for Italy’s sustainable growth, while also investing in innovation and safety” - commented Salini -. “The Group was thus able to safeguard 20 thousand jobs last year alone, and to contribute to the growth of the 7 thousand small and medium-sized companies with which the Group works. For us, this is the purest form of sustainability: giving oxygen to a sector that drives the entire Italian economy, which was already profoundly in crisis before Covid struck".

In fact, there are many projects on hold offering great countercyclical potential. "We have too many of these projects on hold worth over €100 billion” - explained Salini -. “Many of these, are shovel-ready, but financial resources are needed now, and not merely expertise. The €235 billion provided by the Italian Recovery and Resilience Plan and the additional resources made available are an important institutional commitment greatly appreciated by all entrepreneurs. But at the same time, greater efforts are also needed to promote Italy’s revival. The Genoa Bridge, built in just over 12 months, has clearly shown that even in Italy work can be done well, quickly, with correct costs, fully compliant with European regulations, without touching on the Italian Public Contracts Code, which is currently too complex and ineffective. The new opportunities that are opening up in our country give us faith in the future, and in the possibility of creating new jobs for thousands of Italians, who deserve a new start.”, concluded Salini.

The acquisition, coordinated by the M&A team led by Massimo Ferrari, Webuild's General Manager Corporate & Finance, was successfully carried out as part of Progetto Italia,the project to shore up Italy’s construction sector.. It is the most significant M&A transaction carried out in Italy in the sector, and among the most challenging Italian corporate initiatives of recent years. Completed in November 2020, it represents the conclusion of a complex, articulated two-year-long process, which had the support of institutional players and of the financial and banking system: from CDP Equity, to Intesa Sanpaolo, to UniCredit to Banco BPM. The financial package put together for the transaction (i.e., the capital increase, credit lines and bonds) amounted to €1.7 billion. It has led to a significant expansion of Webuild’s shareholder base and to the adjustment of the Group’s governance, with the entry, among others, of CDP and of major Italian banks and long-term institutional investors, who fully backed the Group’s transaction.