Pininfarina Holdings Tender Offer for Pininfarina (2026)
On 16 September 2026 Pininfarina Holdings, a company that already holds 78.8% of the share capital of Pininfarina, launched a voluntary total tender offer for the ordinary shares of the historic Turin coachbuilder, listed on Euronext Milan. The operation is aimed at the revocation of the shares from stock market listing, that is, the delisting of the company from Piazza Affari.
Terms of the Offer
The tender offer concerns a maximum of 16,660,587 shares, equal to 21.177% of Pininfarina's share capital. Excluded from the offer are the 62,013,249 shares, corresponding to 78.823% of the capital, already held by Pininfarina Holdings. The consideration offered is 1 euro in cash for each share tendered [1].
The offered price incorporates a 20% premium over the official price recorded at the close of 15 September 2026, the day before the announcement. The premium rises to 19.7% compared to the weighted average price of the last month, to 22% compared to the average of the last three months, to 26.9% compared to that of the preceding six months, and to 22.3% compared to the average of the twelve months preceding the offer [1].
Objectives of the Operation
The operation is aimed at taking Pininfarina off the stock market by acquiring the shares still in circulation, with a view to seeking new capital for the company [1][2].
Related articles: Mahindra, Pininfarina
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Sources
- ANSA Piemonte — 16 September 2026
- La Stampa — 17 September 2026