Pinheiro Neto Advogados advises on Pettenati delisting tender offer

Pinheiro Neto Advogados advised on the delisting tender offer (OPA), pursuant to CVM Resolution No. 215, launched by Pettenati Indústria Têxtil and its controlling shareholder, Gladium Administração e Participações, for the acquisition of all preferred shares of the company (ticker: PTNT4), at a price of BRL 8.75 per share.

The transaction aims to enable the conversion of the company’s issuer registration with the Brazilian Securities and Exchange Commission (CVM) from Category A to Category B, under the terms and procedures set forth in the official offering documents. The total value of the transaction is BRL 265 million.

Pinheiro Neto Advogados relied on partner Fernando dos Santos Zorzo, senior associate Gustavo Ferrari Chauffaille, and associates Gabriela Kaneshiro Pereira and Paulo Machado de Carvalho Filho.