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Old 9th September 2015, 19:16   #1
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Arrow Mahindra acquires controlling stake in Pininfarina

There are reports that Mahindra might end up purchasing Pininfarina after all. The report out in Autoblog states :

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Mahindra's original offered called for Pininfarina's creditors to write off up to half of of the company's $97 million in debt, although that deal was vetoed by three of the banks holding the debt. Despite the kibosh by the banks, the family behind the famous designers said earlier this year that a new investor would provide "financial solidity and bolster growth in coming years."
There are also reports of stock prices of Pininfarina going up due to this news almost in lock. This means that yet another of Italy's home-grown automobile related firm is getting bought over by a company from another country. Who will end up buying legendary parts-maker Magneti Marelli is yet to be seen.

Full report : http://www.autoblog.com/2015/09/08/m...l-coming-soon/

Last edited by dark.knight : 9th September 2015 at 19:18.
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Old 13th November 2015, 11:59   #2
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Default re: Rumour: Mahindra looking to take over Pininfarina. EDIT: Will purchase 76.06% shares

According to media reports, Pininfarina and Mahindra are set to strike a deal in the coming weeks, which will pave the way for the Indian company to complete the acquisition of the Italian design firm.

Link to Team-BHP News Article
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Old 14th December 2015, 20:15   #3
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Arrow Mahindra acquires controlling stake in Pininfarina

Mahindra and Mahindra, along with Tech Mahindra, has acquired a controlling stake in Pininfarina, the legendary design company. Mahindra has, in recent years, been expanding through acquisitions. The recent notable one being the 51% stake acquisition in Peugeot Motorcycles early this year.
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Old 14th December 2015, 20:24   #4
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Default Tech Mahindra set to acquire Italian car design company Pininfarina.

Tech Mahindra set to acquire Italian car design company Pininfarina!

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Tech Mahindra, a listed subsidiary of Mahindra & Mahindra, has agreed to acquire Italian car designer Pininfarina SpA, which has designed cars for Ferrari, Maserati, Rolls-Royce and Cadillac.

The deal size is not known.

The acquisition of Pininfarina by the Indian conglomerate has been a matter of speculation for the past two years. Senior executives of the Italian car design firm have said before that Mahindra was a strong suitor.

Those tracking the deal were surprised that the acquisition is being made through Tech Mahindra, rather than parent Mahindra & Mahindra, which makes SUVs, tractors and other vehicles.

The move to use Tech Mahindra as the vehicle to acquire Pininfarina is significant, as it better enables the Italian car design firm to retain its distinctive character, which may have been lost had M&M acquired it, experts said.

Rivals in India and overseas may not have been too comfortable dealing with Pininfarina, if it was an M&M subsidiary. Also, Tech Mahindra may have synergies to offer in terms of design software, they said.

A Reuters report last week cited a senior executive at Pininfarina as saying that talks were ongoing.

"Negotiations between controlling shareholder Pincar, creditor banks and Mahindra... over the acquisition of Pininfarina's shares owned by Pincar and debt restructuring never broke off," the person was cited as saying.

Pininfarina has been making losses for years and its net debt stood at 52.7 million euros ($57 million) at the end of June.

Source

Last edited by Technocrat : 16th December 2015 at 01:01. Reason: Putting article content in quotes, thanks
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Old 14th December 2015, 20:43   #5
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Default re: Rumour: Mahindra looking to take over Pininfarina. EDIT: Will purchase 76.06% shares

Came here to post this, was surprised indeed

Full article here http://www.techmahindra.com/media/pr...dra-crown.aspx

Quote:
More from the P-I-E

Pininfarina’s philosophy of Purity, Innovation and Elegance will find a perfect fit with Tech Mahindra’s world of connectedness – where design & styling will, hand in hand with engineering services, go after a larger market.

Tech Mahindra's well-entrenched Integrated Engineering Solutions (IES) business will complement Pininfarina's range of offerings. It is now equipped to pursue bigger opportunities in the outsourced Automotive Engineering Services industry that totals around USD 10 Billion with a CAGR of 8 per cent. The IES offering will be able to compete better with traditional western players, with styling, design and prototyping.
*above emphasis mine
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Old 15th December 2015, 02:35   #6
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Default re: Rumour: Mahindra looking to take over Pininfarina. EDIT: Will purchase 76.06% shares

Great News! Mahindra really took their time and thought it through. Rather than a simple take over of a design firm by indian car maker, they have more strategic thinking in place. And I hope they succeed in realizing synergies in IT and Automotive sectors because the balance sheet of Pinnifarian doesn't look exciting at all.

I also feel this is a consolation prize for Mahindra after they lost out the Volvo deal. That would have been just perfect, looking at the current lineup of Volvo.
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Old 15th December 2015, 09:24   #7
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Default re: Rumour: Mahindra looking to take over Pininfarina. EDIT: Will purchase 76.06% shares

Report on the Mahindra-Pininfarina deal in The Hindu, Bangalore edition 12 Dec 2015 - Tech Mahindra, M&M to buy Pininfarina

@MODS:Time to update the thread title and the news article ?
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Old 15th December 2015, 12:12   #8
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Default Re: Rumour: Mahindra looking to take over Pininfarina. EDIT: Will purchase 76.06% shares

Let's hope the brilliance of Pininfarina's styling, aesthetics, engineering & packaging skills transition sooner rather than later to M&M's design language and help in giving birth to some good looking, proportionate vehicles.

Heard from a source, M&M was confabulating with Pinin for quite a while. Apparently the TUV had a lot of Pinin influence.
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Old 15th December 2015, 13:52   #9
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Default Re: Mahindra acquires controlling stake in Pininfarina

There is a lot of euphoria over this development and anticipation that future Mahindra design will be dramatically better.

But I have never liked any of the Pininfarina designs. They may be good for one-off variants of the mainstream cars, but never practical.

Many a times, OEMs ( Ferrari, Maserati, Mitsubishi ... ) have appointed them for "special editions", but not for mass-produced vehicles. They keep doing concepts, but ...

My personal views based on my limited knowledge on this subject.
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Old 15th December 2015, 16:23   #10
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Default Re: Mahindra acquires controlling stake in Pininfarina

I read an article from Jalopnik that says Mahindra might be contemplating making cars under Pinnifarina name. And ... and looking at how well Mahindra is doing in Formula E it might be an Pinnifarina electric car!!

If this comes true, it would be a game changer for Mahindra and Pinnifarina

http://jalopnik.com/why-mahindra-buy...ing-1748043141
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Old 15th December 2015, 21:21   #11
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Default Mahindra acquires controlling stake in Pininfarina

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Originally Posted by vagu View Post
I read an article from Jalopnik that says Mahindra might be contemplating making cars under Pinnifarina name. And ... and looking at how well Mahindra is doing in Formula E it might be an Pinnifarina electric car!!



If this comes true, it would be a game changer for Mahindra and Pinnifarina



http://jalopnik.com/why-mahindra-buy...ing-1748043141

Has Pinnifarina ever put cars out under its own name? It's really a design and engineering firm, although they do or did, manufactur cars, but never under there own name I think, I could be wrong. My own Alfa Romeo Spider was a Pinninfarina design and certain series were built in the P-factory, but they are still Alfa Romeo's, with a nice P badge on the side.

Im not sure what Mahindra is buying. P has been a troubled company for more then a decade and only some clever financial debt restructuring has kept them afloat, not new innovative designs? How many cars of the last decade were a P design. They might have done a few bits and pieces here and there. I visited their design studio some 7-8 years ago and met with their then design teams. It was stepping into a time machine. These guys made the Morgan design process look positively new age. Yes, they have along history and I have owned at least 4-5 P designed cars and each one was beautiful. But i cant help feeling that P is a thing of the past and has not managed to make its mark on the automative industry during the last decades as they were doing for several decades prior. Would be interesting to hear from others who might have a more in depth view of what P is all about these days.

Jeroen
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Last edited by Jeroen : 15th December 2015 at 21:32.
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Old 15th December 2015, 21:45   #12
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Default Re: Mahindra acquires controlling stake in Pininfarina

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Originally Posted by Ravindra M View Post
T. They may be good for one-off variants of the mainstream cars, but never practical.

Many a times, OEMs ( Ferrari, Maserati, Mitsubishi ... ) have appointed them for "special editions", but not for mass-produced vehicles. They keep doing concepts, but ...
Worth a read...

https://en.wikipedia.org/wiki/Pininf...by_Pininfarina
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Old 15th December 2015, 23:33   #13
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Default Re: Mahindra acquires controlling stake in Pininfarina

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Originally Posted by Jeroen View Post
Has Pinnifarina ever put cars out under its own name? It's really a design and engineering firm, although they do or did, manufactur cars, but never under there own name I think, I could be wrong. My own Alfa Romeo Spider was a Pinninfarina design and certain series were built in the P-factory, but they are still Alfa Romeo's, with a nice P badge on the side.
http://www.pininfarinaazzurra.com/

appparently they did - not much, but it counts!
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Old 16th December 2015, 03:59   #14
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Default Re: Mahindra acquires controlling stake in Pininfarina

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Originally Posted by Jeroen View Post
Has Pinnifarina ever put cars out under its own name? It's really a design and engineering firm, although they do or did, manufactur cars, but never under there own name I think, I could be wrong.

Im not sure what Mahindra is buying. P has been a troubled company for more then a decade

Jeroen
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Hey Jeroen, I agree that Pininfarina is a thing of the past and has never produced cars however that being said the brand has immense potential atleast in car circles. Also, I doubt the ability of Mahindra "right now" to get into Luxury car segment. In the long term (lets says 5 years) with the tech from Formula E and design based on Pininfarina could be a good play. EV market is growing fast and italian Pininfarina can stand out from normal German Merc, Audi and BMWs.

For short term, I would say M&M and Ssangyong can benefit from the acquisition and thereby generating more revenue for Pininfarina. Other than that its mostly a "hey I'm an indian player looking to go global" move.
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Old 16th December 2015, 12:15   #15
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Default Re: Mahindra acquires controlling stake in Pininfarina

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Originally Posted by vagu View Post
, I agree that Pininfarina is a thing of the past and has never produced cars however that being said the brand has immense potential atleast in car circles. .
I'm not so sure. I', no expert but I think P is only known in pretty hardcore petrol head circels. Just becasue they added value in the past to other brands, doesn't mean they will do so in the future. There tend to be reasons why companies get themselves into financial troubles. Most commonly is actually not being relevant in your products and services for the current market.

Plenty of iconic car brands that have been resurrected and failed miserably. Talbot springs to mind. (Worst car we ever owned). Spijker, although certainly innovative in its current incarnation, a deeply troubled company for many years.

Actually several of the former leading Italian desing houses have gone the same way as P, think Bertone.

So for some reason, these design and engineering studios simply dont seem to have the impact and value add that they use to enjoy. Time to change or you go bust, or you get taken over. All signs of poor managment one way or the other.

Jeroen
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