ICOP said the Golden Power condition attached to its voluntary all-share exchange offer for Trevi – Finanziaria Industriale has been satisfied. The Italian Presidency of the Council of Ministers communicated that it would not exercise special powers in relation to the transaction.
Government clearance
ICOP received the communication on 17 September 2026. As a result, the effectiveness condition identified in the offer document published on 1 September has been met. The announcement does not state that the offer has completed or that every other applicable condition has been satisfied.
Separate from Webuild’s cash offer
ICOP’s exchange offer is separate from the competing cash tender offer launched by Webuild for the same issuer. Investors therefore need to distinguish between the regulatory update on ICOP’s exchange offer and developments related to Webuild’s cash offer.
The company
ICOP S.p.A. Società Benefit is a construction and underground-engineering group active in special foundations, microtunnelling, marine works and critical infrastructure. Its shares trade on Euronext Milan under ticker ICOP, ISIN IT0001214433.
Market data
The latest complete session verified in the Italian article was 17 September 2026: last trade at €29.40, up 5.76%, with an opening price of €27.70, a high of €29.80 and a low of €27.70. The session recorded 193 trades for 33,353 shares.
IFM – Italian Financial Markets 