Automation Systems to Acquire Majority Stake in Piovan

Piovan SpA (IT:PVN) has released an update.

Automation Systems S.p.A. has secured necessary authorizations to acquire a 64.82% stake in Piovan S.p.A., with plans to launch a mandatory tender offer for the remaining shares at €14.00 each. The acquisition is backed by Investindustrial VIII SCSp fund, with further notifications pending under Italian and Austrian regulations.

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