15 Dec '15, 2am

Mahindra acquires Italian design house Pininfarina

Mahindra acquires Italian design house Pininfarina

Mahindra has announced the acquisition of Italian auto styling house and engineering company Pininfarina. Negotiations began earlier this year , but the deal has finally been sealed. The buyout sees Mahindra & Mahindra and Tech Mahindra, the IT, networks and engineering solutions arm of the group, taking a 76% controlling stake in Pininfarina at a price of 1.1 euro per share, with plans to make an open offer for the remaining 24% at a later point. The acquisition will give Mahindra access to the host of high-end styling and engineering services provided by the Italian company, while Pininfarina will benefit from an ability to leverage Tech Mahindra’s presence across 90 countries and access to about 780 customers – the aim is to upsell and cross-sell to the combined client base that will now be available to both sides. Mahindra says that Pininfarina will continue to remain ...

Full article: http://paultan.org/2015/12/15/mahindra-acquires-italian-d...

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