PF Holdings Launches Pininfarina Buyout Offer
PF Holdings has launched a voluntary cash tender offer to acquire the remaining shares of Italian design group Pininfarina. The move aims to delist the company from Euronext Milan at a price of one euro per share.
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PF Holdings offered €1 per share in cash on Wednesday evening to buy out the remaining minority stakeholders in Pininfarina, valuing the public float at €16.7M. The voluntary tender targets a 21.2% stake in the iconic Italian design firm. The transaction represents an 18% premium over the target's previous close on Euronext Milan.
