Pinifarina is now officially in the hands of indian. Mahindra & Mahindra finally reached an agreement to acquire the 76% of the shares of the signature of Italian design.
Finally after several twists and turns that lasted for at least two years, Mahindra & Mahindra in conjunction with the technological Tech Mahindra have signed an agreement to acquire in the aggregate a majority interest that will allow them to take control of Pininfarina.
through the agreement sealed, Tech Mahindra, and Mahindra & Mahindra shall have the 76,06 % of the shares of Pininfarina, after paying a number of 25.3 million euros. Of that 76% of the shares, Mahindra will have 40%, while Tech Mahindra will own the remaining 60%. Pincar SL will keep the rest of the actions, which will be sold to other investors during the course of the next year.
in spite of the obligation of to take charge of the debts of Pininfarina, Mahindra gives a step more in your career by becoming a group with a higher weight at the global level. The Indian company already had added to its ranks SsangYong, while it is expected that with the acquisition of the signature of Italian design, their next models gain a new dimension. However, since the indian group ensure that you will put the emphasis on the development of Pininfarina that have nothing to do with the automotive world.
Pininfarina was founded in 1930 and has designed some of the classic car for brands such as Ferrari or Alfa Romeo. For the company of Indian origin, to achieve the control of the firm’s Italian design would mean a move that would establish a design more sophisticated to their vehicles, to their brands SsangYong and Mahindra.