Mahindra might buy Pininfarina after all
Mahindra's original offered called for Pininfarina's creditors to write off up to half of the company's $97 million in debt, although that deal was vetoed by three of the banks holding the debt. Despite the kibosh by the banks, the family behind the famous designers said earlier this year that a new investor would provide "financial solidity and bolster growth in coming years."
Snapping up Pininfarina would be a coup for Mahindra, which hopes to use the famous designers to spice up the bodies of its various vehicles, which according to AN, includes South Korean budget brand Ssangyong. Stay tuned for more on this one, as we expect additional details to break in the coming days.
- Biggest automotive sales disappointments
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models