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Webuild M&A Activity 2022
4062_rns_2022-05-04_f2fe6e83-7ec1-4a74-bf1f-f62ab1bbfd9d.pdf
M&A Activity
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PRESS RELEASE
WEBUILD BUYS REMAINING MINORITY STAKES IN COSSI COSTRUZIONI GROUP STRENGTHENS ACTIVITY IN TUNNELLING
MILAN, May 4, 2022 – Webuild has completed its acquisition of Cossi Costruzioni, a construction company specialised in tunnelling and road maintenance in Italy and abroad, with the purchase of the 18.25% stakes respectively held by bank Banca Popolare di Sondrio and holding company Liri Srl of the founding Cossi family. The acquisition is the culmination of an investment agreement reached in March 2019 when the Group first acquired 63.5% of the company.
Founded in 1976, Cossi Costruzioni is a specialist in tunnelling, viaducts and road maintenance. It has its roots in the Valtellina region in northern Italy and has more than 100 employees, operating mostly in Italy and Switzerland.
Cossi was involved in strategic projects such as the renovation of the Mont-Blanc Tunnel, sections of highways in Italy and Switzerland, the base railway tunnel of Monte Ceneri in Switzerland, as well as the construction of the "Variante di Morbegno" highway in Valtellina. It also contributed to the construction of the Genoa San Giorgio Bridge in Genoa.
Webuild's acquisition of Cossi strengthens the Group's expertise in tunnelling. It already has a track record of nearly 2,400 kilometres of tunnels. Its latest projects in the field include the Brenner Base Tunnel, the Terzo Valico dei Giovi and Genoa Juncture, as well as a number of large hydraulic tunnels in the United States.
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Webuild, the new Group born in 2020 from Salini Impregilo, is a leading global player in the construction of large, complex projects for sustainable mobility (rail, metro, bridges, roads, ports), hydropower (dams, power plants), water (treatment and desalination plants, wastewater management, irrigation dams) and green buildings (civil and industrial buildings, airports, stadiums, hospitals). It supports clients in achieving the Sustainable Development Goals (SDGs) established by the United Nations. The Group is the expression of 116 years of engineering experience applied in 50 countries with 80,000 direct and indirect employees from more than 100 nationalities. Iconic projects, completed or under construction, include the M4 metro line in Milan, a section of Line 16 of the Grand Paris Express, Cityringen in Copenhagen, the viaduct and bridge for Sydney Metro Northwest in Australia, Red Line North Underground in Doha, Line 3 of Riyadh Metro and high-speed railways in Italy. Others include the Genoa San Giorgio Bridge in Italy, the Long Beach International Gateway Bridge in Long Beach, California, the expansion of the Panama Canal, the Snowy 2.0 hydroelectric scheme in Australia, the Rogun hydroelectric dam in Tajikistan, the Anacostia River and Northeast Boundary tunnels in Washington, D.C., and the Al Bayt 2022 World Cup stadium in Qatar. At the end of December 2021, it had a total order backlog amounting to €45.4 billion, with 92% of the construction backlog relating to projects linked to SDGs. Webuild, subject to direction and coordination by Salini Costruttori S.p.A., is headquartered in Italy and is listed on the Milan stock exchange (Borsa Italiana: WBD; Reuters: WBD.MI; Bloomberg: WBD:IM).
Further information is available on www.webuildgroup.com
Contacts:
Media Relations Investor Relations Gilles Castonguay Amarilda Karaj Tel. +39 342 682 6321 Tel +39 02 444 22476 email: [email protected] email: [email protected]
Media Relations (Italy) Carmen Cecchini Tel. +39 346 3019009 e-mail: [email protected]