COMPANIES

No Data Found

NEWS

No Data Found
Advertisement
Mahindra's offer for Pininfarina rejected by creditors: Report

Mahindra's offer for Pininfarina rejected by creditors: Report

Mahindra & Mahindra's offer to take over Pininfarina has fallen through due to opposition from some of the Italian car designer's creditor banks, newspaper II Messaggero said on Saturday.

Valentina Za
  • Milan,
  • Updated Jun 28, 2015 11:25 AM IST
Mahindra's offer for Pininfarina rejected by creditors: ReportA worker cleans a logo of Mahindra & Mahindra, largest utility vehicles maker, inside their showroom in Chennai April 12, 2011. (Photo: Reuters)

An offer by Mahindra & Mahindra to take over Pininfarina has fallen through due to opposition from some of the Italian car designer's creditor banks, newspaper II Messaggero said on Saturday.

Expectations of a sale have recently fuelled gains in the shares of the loss-making Pininfarina group, famous for designing Ferraris and other luxury cars.

Advertisement

Related Articles

"But three or four banks have rejected Mahindra's offer because it envisaged writing off half of Pininfarina's debts of 87 million euros ($97 million)", the newspaper said.

Pininfarina declined to comment. Also, it was not immediately possible to contact Mahindra.

(Reuters)

Published on: Jun 28, 2015 10:56 AM IST
    Post a comment