Penske Automotive to Go Private in $16.3 Billion Deal

Penske Automotive Group announced on Thursday that it will be taken private at an enterprise value of roughly $16.3 billion. Penske Corp and Japanese trading company Mitsui & Co. will acquire the remaining shares through their vehicle Motown Acquisition Corp. Shareholders outside that group will receive $212 per share in cash, an 8.84 % premium to the most recent closing price. The deal was approved by the board after a unanimous recommendation from a special committee of independent directors. The transaction is expected to close in the first quarter of 2027 pending shareholder and regulatory approvals.

Ownership split

Ownership split: Penske Corp will own about 64 % of the company after closing, while Mitsui will hold the remaining 36 %. The shares will no longer trade on the New York Stock Exchange. The transaction does not include Penske’s racing businesses.

Separation from racing: The deal involves only Penske Automotive Group, not Team Penske or other racing operations. Team Penske and related entities remain outside the agreement. The announcement highlighted that the automotive retail business will operate under new ownership while the racing empire stays separate.