Mahindra Buying Pininfarina Car Design Company!


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Mahindra is closing in on the purchase of the company that designed the Ferrari Testarossa after weeks of talks.
After the acquisition of Korean automaker SsangYong and French two-wheeler manufacturer Peugeot, Indian utility vehicle manufacturer Mahindra, is rumoured to be considering taking over Italian automobile design firm Pininfarina.
Pininfarina could help the Indian manufacturer add flair to its namesake brand and its Ssangyong unit.
Pininfarina-designed efforts also include the Rolls-Royce Camargue, Cadillac Allante and Maserati Quattroporte. It stopped large-scale production for its automaker clients and closed its factories three years ago. The company has branched out to design projects aside from autos, including residential apartment towers, vending machines and toothbrushes.
http://www.autonews.com/article/201...o-be-in-talks-to-buy-car-designer-pininfarina
 
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Re: Mahindra to buy car design company Pininfarina

Mahindra is a company which actually and desperately needs a good design team, unlike TATA.

Hope with this acquisition, they can not only make good vehicles, but good looking vehicles as well.
 
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Mahindra’s plan to buy Pininfarina falls through.

It now seems that won't happen as the creditors are not satisfied with the offer. Three or four banks have denied the deal because it stipulated erasing 50% of Pininfarina's massive €87 million debt.

Mahindra
 
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Mahindra's acquire Pininfarina for $28 million.

The carmaker, together with its affiliate Tech Mahindra Ltd., will buy a 76.06 percent stake from the Pincar holding company.
As part of the agreement, Tech Mahindra and M&M shall purchase 76.06% of Pininfarina shares from the current controlling shareholder Pincar S.r.l. at a price of Euro 1.1 per share. This investment by Tech Mahindra and M&M shall be done via a joint venture company (JVCo), whose ownership shall be held 60% by Tech Mahindra and 40% by M&M.

Pininfarina has been making losses for years and its net debt stood at 52.7 million euros ($57 million) at the end of June.

Mahindra acquires Pininfarina for $28 million – MotorOctane
 

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