REPORT: Pininfarina family to sell majority stake in business, possibly to Tata
James Glickenhaus' Pininfarina-designed Ferrari P4/P5 - Click above for a high-res image gallery
Due principally to debt, the family owners of Pininfarina S.p.A. have contracted with Italy's Banca Leonardo to help them sell 50.7 percent of their stake in the design/contract manufacturing business. Said a source, "It is a commitment [the Pininfarina family] made with the banks. The family has no intention of leaving completely." Sure, but who will buy controlling interest of such a storied company? Have you met our Indian friend Tata?
That's right, rumors are swirling that Indian giant Tata, new owner of both Jaguar and Land Rover, is reportedly in the hunt to purchase the Pininfarina family's shares. However, the reports are painting the pending deal as a partnership rather than a takeover and Tata already has dealings with Fiat, so they're familiar with the Italian way of doing things. For its part, Pininfarina is working on an electric car (hey, why not?) with French entrepreneur Vincent Bollore. They also have contracts with both Ford and Volvo to build cabriolets of the Focus Coupe-Cabriolet and the C70, respectively. We'll see how this all plays out, especially now that Fiat owns Bertone.
Gallery: Ferrari P4/5 by Pininfarina
[Source: Automotive News - sub req]
Reader Comments (Page 1 of 2)
nrb 4:51PM (8/07/2009)
Because Tata doesn't have enough problems.
Reply
the4thheat 2:45AM (8/08/2009)
Yeah the first thing I thought was...with what money? How are they going to go around acquiring companies when they can barely keep themselves afloat. This makes no sense.
Amien 8:39AM (8/11/2009)
They've actually got tons of money to go around, but even oceans can dry up, and going by present conditions it could all come crashing down on them, which would be a shame due to the general non-interfering policy they adopt with their acquisitions.
Their more or less excellent relations with Fiat can only help as well.
I know it doesn't feel right when iconic manufacturers(or designers in this case) get sold to a company from another country, but if not Tata, who would you prefer buy them instead? If its up for sale, someone's gonna buy, and i do not want it to be the Chinese(no offense to the nation, just the "auto industry") or any of the other logical "options".
Could just be me though...
Lucas 4:51PM (8/07/2009)
[I'm nodding my head side-to-side]
Reply
jamie 5:03PM (8/07/2009)
Uh-huh.
Did anyone let Sergio Marchionne know about this yet?
Reply
BoxerFanatic 5:13PM (8/07/2009)
Yeah, I am sure Ferrari is watching this with wide eyes.
Maybe Fiat can buy that, instead, too...
Bertone-in-house designed Alfas and Chryslers, Pininfarina-in-house designed Maseratis and Ferraris. Fiats just get designed by the interns. :D
Reply
Rick C. 6:33PM (8/07/2009)
Ah, no. Just looking back at the 60's and 70's and considering the sporty cars. Pininfarina designed the Dino Spider and the 124 Spider. Bertone did the X1/9. The 124 Coupe, even though a Bonano design, was done in-house.
Affalterbach 6:53PM (8/07/2009)
Its actually Lancia that gets styled and engineered by interns.
Chris 5:24PM (8/07/2009)
tata...really?
how utterly disappointing. Maybe they can help the nano design team.
Why didnt fiat buy? have it remain a proper Italian design company
Reply
zanenats 5:40PM (8/07/2009)
added to list of cars not to buy, along with jag and LR
Reply
mkrulz 5:40PM (8/07/2009)
I think Toyota should buy it.
Reply
Andy S 11:36AM (8/08/2009)
Based on their most recent designs for Ferrari, the lumpy California and the jelly bean-like 458 Italia, I'd say PF has lost their mojo, it's time to let somebody else do the styling for the House of the Prancing Horse.
Reply
RLQ 6:32PM (8/07/2009)
WUT?
Reply
Rivengle 7:19PM (8/07/2009)
FIRST JAGUAR?! THEN LAND ROVER?! NOW PANINFARINA?! IT'S A SIGN OF THE APOCOLAYPSE!
Reply
Middle Aged 12:04AM (8/08/2009)
NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Reply
Venom 1:02AM (8/08/2009)
Pininfarina needs to stay Italian owned.
This is ridiculous.
Reply
skablaw 1:25AM (8/08/2009)
Yeah, seriously, I say this from a completely unprejudiced perspective: India needs to stay the "F" out of Italian automotive design. You're already screwing with the Brits, but I'll grant you that one because they jerked you around so much during the colonial period. You've already made Jaguars not Jaguars. Please don't make our Ferraris and Maseratis not Ferraris and Maseratis.
Reply
zelosu 3:23AM (8/08/2009)
"We'll see how this all plays out, especially now that Fiat owns Bertone."
You guys don't get it - Fiay doesn't own Bertone, they just bought their manufacturing facility (i.e. a factory), not the design house or the right ot use their name
Reply
NLR 4:43AM (8/08/2009)
Why can't an investment firm in Dubai purchase that stake and let Pininfarina do it's thing? When the economy comes back (more) people will buy Ferraris and the firm would receive a nice return on its investment. I mean it worked for Aston - best decision EVER to produce the V12 Vantage.
Reply
Mike 1:43PM (8/08/2009)
http://mpmotoringlife.blogspot.com/2009/08/tatafarina.html this could be what comes of Tatafarina
Reply