India's Mahindra in talks to buy luxury car designer Pininfarina, say sources
Milan
INDIA'S Mahindra & Mahindra is in talks to buy a majority stake in luxury car designer Pininfarina in what would be the latest Asian bid for an iconic Italian brand, three sources with knowledge of the matter said on Wednesday.
Shares in Milan-listed Pininfarina, which has designed cars for Ferrari, Maserati, Rolls-Royce and Cadillac, jumped 21 per cent to 4.96 euros, their highest in nearly a year on hopes of a takeover by India's largest maker of sport utility vehicles.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources