Italian company Webuild completes the acquisition of 100% of the Italian tunnelling specialist Seli Overseas. Webuild announced below

Webuild: Process concluded for acquiring 100% of Seli Overseas, a company specialized in worldwide underground excavation works

Progetto Italia confirmed as industrial lever for the relaunch of Italy and its construction sector

Milan, August 13, 2021 – Webuild has definitively formalized the acquisition of 100% of Seli Overseas, a company specialized in tunneling, acquired as part of the agreement with Grandi Lavori Fincosit. This completes a further step of Progetto Italia, the industrial project launched by Webuild in 2018. Progetto Italia will today be able to contribute to Italy's infrastructural development and to the construction works foreseen by the Italian National Recovery and Resilience Plan (Piano Nazionale di Ripresa e Resilienza PNRR), even more so after Astaldi’s integration. This last step, the acquisition of Seli Overseas in fact consolidates highly specialized technical skills in the mechanized tunnel excavation sector for underground works.

Effective as of July 27, 2021, it is the result of the offer promoted by Webuild, in 2018 and ends with the final awarding, part of the competitive procedure launched in April 2021, by the judicial liquidator of the arrangement with creditors of Grandi Lavori Fincosit.

Seli Overseas is a company specialized to build complex infrastructure for sustainable mobility, particularly metros and railways, hydroelectric power generation and water management plants, and aqueducts and sewers. It has 70 years of experience and over 800 km of tunnels excavated in Italy and abroad. It has already carried out several projects with the Webuild Group, in Italy, and globally, including the Terzo Valico dei Giovi, the high-speed railway line between Milan and Genoa, currently under construction as well as Copenhagen's Cityringen metro, the new metropolitan circular line with two 15.5 km-long-tunnels (for a total of 31 kilometres), with 17 new underground stations, located on average 30 metres below ground. The project, inaugurated in September 2019 by the Queen of Denmark will help the city to become the world's "greenest" capital.

https://www.webuildgroup.com/en/media/press-releases/process-concluded-for-acquiring-100-of-seli-overseas