Official: Pininfarina is in Indian hands

Posted on 14-12-2015 at 18:45 by dizono – 27 Comments”

After sounding names such as Jaguar, Land-Rover, but also, for example, blast Furnaces, is now also Pininfarina in Indian hands. That will make the streets like a go up.

The Italian designhuizen have a very difficult time. Giugiaro’s ItalDesign came into the hands of VW, what the great master did decide to leave, Bertone went to shit under, and also Pininfarina struggled with financial problems. Which were partly caused by the fact that many manufacturers in the past to produce special models as convertibles and coupé’s, outsourcing to the parties as Bertone (o.a. Astra Convertible) and Pininfarina (o.a. 306 Cabrio, Alfa Romeo Brera and Focus CC). Contracts, all of which have expired and for which no new contracts in place.

Earlier there were rumours that the Indian Mahindra (mostly known for affordable 4×4’s) in conversation with the Italians. Today, Mahindra brought out that there is consensus about the sale. The deal embraces a total of 168 million euros. Currently, Pincar, the largest shareholder, with a stake of 76 per cent. They sell all of their shares to Mahindra for 25.3 million euros, or 1,10 euro per share, according to ANE. They promise at the same time, also the same price to pay for the remaining shares, but the price increased today to almost 400% to 4,20 euros per share.

There is a guaranteed 20 million euro in Pininfarina put and get creditors a guarantee of up to 114.5 million euro in outstanding bills. All in all, relatively small amounts, for which you are in Silicon Valley, not even a failed startup with a half a horse head in the service can buy.

It is intended that the Italians, in any case, going to sign for the future models of Mahindra, but many details are not yet announced. Let’s hope that this, in any case, Pininfarina has been rescued, the Indian streets something nicer and at the same time can continue to enjoy beautiful by Pininfarina styled Ferrari’s.