Mahindra and Pininfarina have not formed any deal over a possible takeover
A month ago, news emanated that Mahindra & Mahindra was in talks with Italian design firm, Pininfarina SpA, for a total acquisition. Obviously, both parties Mahindra and Pininfarina denied to comment on the subject, until now.
Mahindra has been very eager to buy off international auto brands, but many have slipped, including Jaguar Land Rover and Aston Martin. Now, the group is on pursuit of the much renowned automobile design firm, Pininfarina, which is actually the Indian automaker’s client for a radical project.
Pininfarina Chairman, Paolo Pininfarina, said last week that the company may soon have a news about a possible tie-up. Now, according to latest reoprts, Mahindra & Mahindra had planned to present a formal offer for the Italian design house, just in time for the latter’s shareholder meeting. But post meet, Pininfarina CEO Silvio Angori said no deal has been reached yet.
Pininfarina is the designer of a lot of Ferraris, including the iconic Testarossa, and other well appreciated cars like Maserati Quattraporte. The design house also gave design inputs to Mahindra for Reva Halo electric sportscar concept, which was put on show at 2014 Delhi Auto Expo.
Via – Economic Times