Trevi Fin Industriale

Regulatory Filings • Feb 28, 2020

Informazione Regolamentata n. 0262-11-2020		Data/Ora Ricezione 28 Febbraio 2020 18:20:29	MTA
Societa'	:	TREVI GROUP
Identificativo Informazione Regolamentata	:	128114
Nome utilizzatore	:	TREVIN04 - Sala
Tipologia	:	REGEM
Data/Ora Ricezione	:	28 Febbraio 2020 18:20:29
Data/Ora Inizio Diffusione presunta	:	28 Febbraio 2020 18:20:30
Oggetto	:	TREVI GROUP: FIRST PHASE OF THE DISPOSAL OF OIL & GAS DIVISION COMPLETED AS ENVISAGED BY THE RECOVERY PLAN
Testo del comunicato

Vedi allegato.

TREVI GROUP: FIRST PHASE OF THE DISPOSAL OF OIL & GAS DIVISION COMPLETED AS ENVISAGED BY THE RECOVERY PLAN

• THE FIRST CLOSING RELATED TO THE DISPOSAL OF THE OIL & GAS DIVISION HAS OCCURRED
• FIRST STEP TOWARDS THE IMPLEMENTATION OF THE FINANCIAL RESTRUCTURING TRANSACTION OF THE TREVI GROUP
• THE OIL&GAS DIVISION SALE WILL BE COMPLETED WITHIN MARCH

Cesena, 28 February 2020 – Trevi - Finanziaria Industriale S.p.A. ("Trevifin" or the "Company") informs that, as envisaged by the restructuring plan of the Company, the first phase of the closing of the sale of the group companies operating in the Oil&Gas sector has been completed today. In the context of the closing, the Company has transferred to Megha Global Holdings BV, a company of the group headed by Megha Engineering & Infrastructures Ltd (the "MEIL Group" or "MEIL"), a minority shareholding in Petreven S.p.A., for a portion of the overall purchase price equal to approximately Euro 20 million. Such portion of the purchase price will be used by Trevifin in order to repurchase certain assets which are used in the Oil&Gas sector and currently held in leasing, and which will be thereafter contributed in the Oil&Gas Division (please refer to, amongst others, the press release dated 6 August 2019, available on the Company's website www.trevifin.com, section "Investors Relation/Press releases").

The second phase of the closing – whereby the residual participations in the Oil&Gas division will be transferred to the MEIL Group and the balance of the purchase price will be paid to the Trevi Group – is expected to occur by 10 March 2020. Following the second phase of the closing, the disposal of the Oil&Gas division will be completed.

The Company remarks that (as also mentioned in the press releases dated 16 July 2019 and 6 August 2019, available on the Company's website www.trevifin.com, section "Investors Relation/Press releases") the disposal of the companies operating in the Oil&Gas sector, and the application of the relevant proceeds to the partial repayment of the financial indebtedness of such companies, is one of the main pillars of the overall financial restructuring transaction which the Trevi Group is implementing, in accordance with the debt restructuring agreement executed on 5 August 2020 and approved by the Court of Appeal of Bologna on 10 January 2020, as well as of the relevant industrial, economic and financial plan for the financial restructuring and industrial turnaround of the Trevi Group.

Finally, the Company also informs that today the lenders have formally confirmed the postponement to 31 March 2020 of the final term for the satisfaction of the conditions precedent provided under the debt restructuring agreement, in order to allow the Company to carry out all the transactions required for the launch of the capital increase and the completion of the financial restructuring transaction, in line with the envisaged timing and in accordance with the financial restructuring and industrial turnaround plan of the Trevi Group.

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About Trevi Group:

Trevi Group is a worldwide leader in the field of soil engineering (special foundations, tunnel excavation, soil consolidation and the building and marketing of special rigs and equipment relevant to this engineering sector); the Group is also active in the drilling sector (oil, gas and water) both in the production of plant and the supply of services, and it also builds automated underground car parks. The Group was established in Cesena in 1957 and today has more than 30 branches and is present in over 80 countries. Its success is due to the vertical integration of the main divisions making up the Group: Trevi, the division that supplies special services in the field of soil engineering, Petreven, the oil drilling division of the Group, Soilmec, the division that produces and develops plant and machinery for soil engineering and Drillmec the division that produces and develops drilling rigs (oil, gas and water). The parent company has been listed on the Milan stock exchange since July 1999.

For further information:

Investor Relations: Massimo Sala - e-mail: investorrelations@trevifin.com Group Communications Office: Franco Cicognani - e-mail: fcicognani@trevifin.com - tel: +39/0547 319503 Ufficio Stampa: Community - Strategic communication advisers - T. +39 02 89404231 Auro Palomba - Auro.palomba@communitygroup.it Roberto Patriarca - T. +39 335 65 09568 - Roberto.patriarca@communitygroup.it