Pininfarina talks with Mahindra & Mahindra may be back on agenda
Listed Italian car design company Pininfarina could restart talks over a sale with Mahindra & Mahindra (M&M), Italian language daily Il Messaggero reported. The unsourced report said that the path to reopening negotiations was opened by the loss of a court case by former Pininfarina workers whose production facility was sold to the De Tomaso car group demanding to be re-employed by Pininfarina.
As previously reported, M&M was set to invest up to EUR 80m in taking control of Pininfarina. Some 76% of holding company Pincar is held by Pininfarina's creditor banks, the most exposed of which are Intesa Sanpaolo, Banco Popolare, Unicredit and UBI Banca, as previously reported.
Il Messaggero