As we had already advanced before, Mahindra left the trucks on stand by and signed an acquisition agreement comprising 76.06% of Pininfarina's shares. But Mahindra's ambition does not stop there, there are already plans to, in the near future, make an offer for the remaining 24% to Pininfarina shareholders. That’s business!
It should be remembered that Pininfarina has designed more than 1000 cars, including models for Ferrari, Fiat, Maserati and Alfa Romeo. Pure Italian design. And yes, we did it on purpose not to recall models like the Hyundai Matrix or the Mitsubishi Colt CZ3.
In addition to the initial amount paid by Pininfarina, estimated at around 25 million euros, Mahindra will still have to assume the debts of the Italian house to creditors, totaling 113 million euros. To these items, we must add 18 million euros for internal investments.
“Pinfarina will add tremendous value to Tech Mahindra's engineering services portfolio. But just as important is the fact that Pininfarina's legendary high-end design credentials will significantly enhance the design capabilities of the entire Mahindra Group. Given the growing design sensibilities of today's consumers, product design will greatly influence customer choice and experience, and therefore our success.” | Mahindra Anard, Chairman of the Mahindra Group
These were the words of the Chairman of the Mahindra Group, when discussing one of the major acquisitions this year.