Negotiations have taken a long time, but now the deal is closed. And the Indian company Mahindra is the new owner of this huge piece of automotive history and good taste called Pininfarina. Mahindra really needs assistance with design, as well as Ssangyong, another automotive company of the group. Pininfarina is the right studio for the task and the Indian company rightfully names it as its crown jewel. It has even made a new video to express the joy with the deal:
According to the official communication, Pininfarina will remain as an independent company, traded in the stock market and controlled by Paolo Pininfarina. Tech Mahindra and Mahindra & Mahindra will acquire 76% of Pincar, the holding of Pininfarina.
Initially, a joint venture composed by Tech Mahindra, with a 60% stake, and Mahindra & Mahindra, with a 40% stake, will buy Pincar’s shares for 1,1 euro each, in a deal that will cost around 25 million euros.
Later, there will be a PO for Mahindra to buy the ordinary shares that were used as pledge by banks at the same price of the ones under Pincar’s possession. Include 30 million euros more to the deal. In 2016, Mahindra has committed to invest another 20 million euros in order to increase Pininfarina’s capital. In other words, it will eventually spend much more than the 55 million euros involved in the direct acquisition
We are sure you have already desired to buy a Pininfarina designed car, such as the Sergio, loads of Ferrari, of which the F40 may the best example, the Maserati Quattroporte and several others.