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Mahindra Pininfarina deal rejected by Italian creditor banks

Mahindra Pininfarina deal fell through

Mahindra was reportedly in contention to buy the famed Italian design firm Pininfarina but it appears the deal has fell through.

According to an Italian newspaper Il Messaggero’s report, Mahindra Pininfarina acquisition deal has been rejected by three or four creditor banks of the design studio. The rejection is reported to be due to the Indian conglomerate’s contemplation of writing off half of Pininfarina’s debts which amount to 87 million euros. Such a move would have been detrimental to the creditor banks.

Mahindra Pininfarina deal fell through

Few of Pininfarina’s creditor banks don’t want Mahindra to write off the Italian firm’s debts.

The Italian newspaper was not able to extract an official statement from any of the entities involved. The publication reports that Pininfarina will now seek for a debt restructuring. It’s to be noted that ever since the news of acquisition emerged, shares of the Italian design firm started gaining.

The debt-ridden Pininfarina is in a dire need of financial stability which would have been given by Mahindra had all the¬†creditors agreed. The company which has penned several of world’s most iconic cars including Ferraris, Maseratis and regular road cars would have enhanced Mahindra’s brand equity in the global arena.


Mahindra Reva Halo electric sportscar concept has design inputs from Pininfarina.

Mahindra has been in an acquisition spree in the recent years. While Ssangyong episode is so far so good, the company’s bid to acquire Jaguar Land Rover and Aston Martin (reported) didn’t pan out. Mahindra also briefly owned Italy-based Engines Engineering.

About the author

Sagar Patel

Sagar Patel

A first drive in a manual rickety old van was enough to pave the road forward for Sagar Patel. When not driving or riding, his dexterity shifts gear to voice passion through words via reviews, and news, all the while, closely monitoring updates from the auto industry.

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