Mahindra group today announced it will acquire Italian automotive and industrial design firm Pininfarina for an overall outgo of over 50 million Euros (nearly Rs 370 crore) after months of negotiations.
The acquisition is being carried out through a special purpose vehicle (SPV) and two group firms Tech Mahindra and Mahindra & Mahindra (M&M) will own 60 percent and 40 percent, respectively, in the Turin-based firm.
"As part of the agreement, Tech Mahindra and M&M will purchase 76.06 percent...
M&M to buy Italy's Pininfarina
The acquisition is being carried out through a special purpose vehicle (SPV) and two group firms Tech Mahindra and Mahindra & Mahindra (M&M) will own 60 percent and 40 percent, respectively, in the Turin-based firm.
"As part of the agreement, Tech Mahindra and M&M will purchase 76.06 percent...
M&M to buy Italy's Pininfarina