Tata wants part of Pininfarina
Tata will join the French industrial group Bollore, which also will take a stake in Italy’s largest design consultant and contract manufacturer.
Company sources say the size of the stakes will be known in the next few months after a proposed
100 million euros capital increase is approved by Pininfarina’s shareholders Tuesday (April 29).
Pininfarina’s losses widened to 115 million euros last year from 22 million euros in 2006. The Pininfarina family currently controls 55 percent of the company’s shares. Their stake will decline to about 30 percent after the capital increase. Last week, Pininfarina and Tata signed a letter of intent to establish a research, design and engineering center in Pune, India.
Pininfarina will be the majority shareholder with management responsibility. Tata will support the center with contracts.
You can reach Luca Ciferri at email@example.com.