Mahindra, one of India’s largest automobile manufacturers, is reportedly in talks to buy Italian car design firm Pininfarina. That’s the word from Bloomberg, quoting "people familiar with the matter," which claim the Indian company is closing in on the purchase of Italy’s famous design house. Founded in 1930, Pininfarina has posted losses in 10 of the past 11 years as it struggled with debt. Despite numerous attempts to restructure debts, Pininfarina ended all mass automotive production in late 2010 with the conclusion of the contract to build the Alfa Romeo Brera and Spider.
Pininfarina still cooperates with a number of carmakers though, including Mahindra. The Italians had worked on the Indian company’s Halo electric sports car concept shown in 2014 and currently provides input on SUV development. Mahindra declined to comment on takeover talks, but Pininfarina’s shares surged 26 percent Wednesday, the biggest gain in almost four years, since the rumor emerged. Mahindra stock also gained 1.5 percent. Representatives of the two firms have been negotiating for weeks, but talks could still fall apart, the report added. Should Mahindra buy Pininfaria, the Italian house could help revamp the Ssangyong SUV brand, which the Indians purchased in 2011.
Continue reading to learn more about Mahindra’s plans regarding Pininfarina.
Mahindra In Talks To Buy Pininfarina originally appeared on topspeed.com on Thursday, 26 March 2015 09:00 EST.
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