Pininfarina: Mahindra ready to close, fly title – ANSA.it

TURIN – The negotiations for surrender to the Indian group Mahindra Pininfarina is now at the final stages and the title of the historic body of Turin, which has to recently celebrated 85 years of activity, it flies in the stock market. Suspended for most of the session, closing at 4.95 euro, marking an increase of 20.6%. A rise which pushed the Italian Stock Exchange to announce that tomorrow, to avoid further speculation, “will not be permitted to enter orders without a price limit.” The interest of the conglomerate of Mumbai for the famous brand, which in the past has linked its name to the dream car as Ferrari Testarossa, Alfa Romeo Giulietta Spider, the famous duet, and the Fiat 124 Spider, has long been known. “The world is changing, globalizing. Companies need to show signs of change,” he said in recent months Paolo Pininfarina, president of design. Upon disclosure of the half-year, in July, the same company had confirmed the existence of a negotiation. And today Pincar, the Pininfarina family holding which owns 76% stake, has reiterated this, stating that “we will exercise due diligence in promptly inform the market of any agreements signed and binding”.

According to the Sun 24 Hours, the agreement would hold “in days”. and within a week you should hold a meeting “crucial” with the banks. The possible sale fact requires the consent of creditors thirteen banking groups that since 2008 support the refinancing of debt and have pledged the full participation of Pincar. The next few hours will therefore be decisive for the passage of another historical piece of Made in Italy, after Pirelli, in an Asian group. Established in 1930, the company now has 680 employees, compared to 1,600 90s. No longer produces car mass, but only unique, exclusive cars or small series. They remain active in the Turin Style and Engineering Centre of Cambiano and the wind tunnel of Grugliasco. Mahindra is the first foreign group to have set their sights on Pininfarina. The French financier Vincent Bolloré, in which the Turin-based company has been working for the electric car Bluecar, had submitted a formal expression of interest in early 2011. Rumors were then chased respect to the attention of Chinese groups, as Brilliance and Anhui Jiangling, but also Austro-Canadian Magna and another Indian giant Tata, with whom Pininfarina has also created a joint venture.

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