PF Holdings B.V. (the “Offeror”), a company controlled by the Mahindra Group, launched a voluntary tender offer for all outstanding ordinary shares of Pininfarina S.p.A. (“Pininfarina”) not already held by the Offeror, representing 17.415% of its share capital, at a consideration of €1.00 per share. The Offer is aimed at delisting Pininfarina from Euronext Milan.

Pininfarina is an Italian group operating internationally in the provision of design and engineering services, with a particular focus on the automotive sector. The Group operates in styling, engineering development, prototyping and small-series vehicle production, as well as in architecture, interior design and product design.

In connection with the transaction, Vitale acted as independent financial advisor to the Independent Directors of Pininfarina, providing a Fairness Opinion on the fairness, from a financial point of view, of the consideration offered by the Offeror.
 

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