Deal to save Pininfarina just weeks away
Famous Italian car design studio to be saved from bankruptcy by Indian car-makerIndian car-maker Mahindra and Mahindra claims it expects to own famous Italian car design studio, Pininfarina, in the “next few weeks”.
The deal, that will see the famous car design saved from crippling debts of around $84 million, is said to guarantee Pininfarina’s future.
The Italian design studio was first founded back in 1930 and going on to become synonymous with designing some of the world’s most beautiful cars, famously creating designs for Ferrari, Maserati, Rolls-Royce and Cadillac before hitting trouble some ten years ago.
The reason for its decline has been car-makers becoming more reluctant to consult external design help, preferring instead to bring all car design in-house.
Recently, Pininfarina was estimated to be worth around $240 million. It’s not known how much Mahindra and Mahindra has paid to acquire it following the restructuring of all its debts.
Current Pininfarina designs include the Ferrari California, FF and F12Berlinetta.
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