Pininfarina's legacy features well on this blog - although not nearly enough and that's my fault obviously - and it's pending sale to an Indian company caught my eye.
"Mahindra & Mahindra is close to signing a deal to buy Italian car designer Pininfarina (PNNI.MI), two sources with direct knowledge of the matter said on Friday, the latest purchase of an iconic Italian brand by an Asian company.
"...Milan-listed Pininfarina has designed cars for Ferrari, Maserati, Rolls-Royce and Cadillac. Its shares closed down nearly 10 percent on Thursday after daily MF reported that there were growing doubts over the success of the talks..."
"...Turin-based Pininfarina, which owes its name to a nickname of its founder Battista Farina, also called "Pinin" Farina, is the latest Italian industrial brand to be snapped up by an Asian buyer after China National Chemical Corp agreed to buy into tyre-maker Pirelli in a 7.3 billion euro deal in March."
It's a shame such iconic Italian brands and companies don't remain in Italian hands but if acquiring companies can ensure viability without compromising Italian jobs and/or style, then so be it. Better that instead going bankrupt.
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