Mahindra acquires Italian car design firm Pininfarina

Tech Mahindra and Mahindra & Mahindra, part of the $16.9 billion Mahindra group, have jointly entered into an agreement with Pincar S.r.l., to purchase a controlling stake in Pininfarina S.p.A., an iconic Italian brand in automotive and industrial design. As part of the agreement, Tech Mahindra and M&M will purchase 76.06 per cent of Pininfarina shares from the current controlling shareholder Pincar S.r.l. This investment by Mahindra will be done through a joint venture company, whose ownership will be held 60 per cent by Tech Mahindra and 40 per cent by M&M.

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