Tata wants part of Pininfarina

Article Tools
Reprint Reprints image Print
Send a letter Respond Size: larger  smaller
Related Topics
Luca Ciferri
Automotive News Europe
April 28, 2008 07:07 CET
TURIN -- Indian automaker Tata Motors will take a minority stake in 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 lciferri@crain.com.

image Print   Send a letter Respond to Editor   Reprint Reprints        

COMMENTS

Have an opinion about this story?
Click here to submit a Letter to the Editor, and we may publish it in print.

Or submit an online comment below

Readers are solely responsible for the content of the comments they post here. Comments are subject to the site's terms and conditions of use and do not necessarily reflect the opinion or approval of Automotive News. Readers whose comments violate the terms of use may have their comments removed or all of their content blocked from viewing by other users without notification.



SUBSCRIBE | FREE ACCOUNT
 

Latest Headlines
More »