Mahindra group to acquire Italian car designer Pininfarina
Q. Which Indian automobile company has agreed to purchase Italian car designer Pininfarina S.p.A in an all cash deal on 14th December 2015?- Published on 15 Dec 15a. Tech Mahindra
b. Mahindra and Mahindra Ltd
c. TATA Motors
d. Both a and b
ANSWER: Both a and b
Tech Mahindra and Mahindra and Mahindra Ltd, part of the Mahindra Group have made the agreement to purchase Italian car designer Pininfarina S.p. A in an all cash deal. Tech Mahindra and M&M will form a 60:40 JV for acquiring Milanese company Pininfarina which has designed cars such as Ferrari, Rolls Royce and Cadillac. The JV, will also infuse 20 million euros into Pininfarina by way of a rights issue, which would be executed before the end of 2016.
