Pininfarina family stake to be sold - Tata potential suitor

Pininfarina Blue Car EV production version at Geneva 2009 / Sebastian Geisler

By Thami Masemola
August 10, 2009 6:25 PM
Filed Under: Corporate/Financial, Design, European, Industry, Pininfarina, Tata

Pincar, the company owned by the Pininfarina family may sell its majority stake in troubled design house and coachbuilder Pininfarina. Through Pincar the family holds a majority stake of 50.7%. Selling the piece is a decision taken at a board meeting last week and was part of a debt agreement made with the banks in 2008. The end result would be that Pincar would no longer be the majority owner but at the same time the family would not leave the business completely.

A number of well-known industry names have been touted as possible new partners. One of them is Tata which owns the Tata Motors, Jaguar and Land Rover brands. The Indian company has an existing alliance with Fiat and was mentioned as an investor last year. Being closely related to Pininfarina, a company that has designed some of the most striking Ferraris and Maseratis in the past would certainly give Tata a boost in its design department.

Another possible partner is said to be Bolloré, the French industrial company. Pininfarina is working with them to develop an electric car dubbed, Bluecar. In 2008 founder Vincent Bolloré expressed an interest in becoming one of the shareholders at Pininfarina.

Could Ford also be in the mix? The Italian brand builds the Focus Coupe Cabriolet for the blue oval while another agreement sees it producing the Volvo C70 at a plant in Uddevalla, Sweden.

 

Source: autonews.com (sub req)

Comments

Iconic
August 10, 2009 8:35 PM
Next stop... Fiat. Now that would be hilarious!

sris
August 10, 2009 10:54 PM
Cant help if the whites aint doin good business ;) shifting times.. its the Asian millenium baby.. get used to it.. heh heh :D

Edison
August 11, 2009 9:56 AM
Haha. Wow, that's ignorant. It seems like you harbor alot of angst. Let me enlighten you about Tata. Tata (and others) have benefitted greatly from western technical know-how. Tata was helped by Daimler-Benz in the 1950s and more recently FIAT, who licensed their common-rail diesel technology to Tata. Also, many of the more complicated parts of the beloved Nano such as the ABS, ECU, Fuel Injection, etc are sourced from Bosch, as they are in many cars all around the world. Heck, the Nano was even designed at the IDEA institute in Italy. Also, in case you either didn't read or understand the title, "potential suitor" means that the deal is just hearsay at this point. If you read further, the rest of the article states that Bollore has expressed interest as well.

car-o-bar
August 10, 2009 11:16 PM
Great catch TATA. Go for it. Pinin otherwise was losing identity since most car companies have their own design shop.

EDavis
August 11, 2009 3:14 AM
I was hoping to catch a glimpse of some Italian Tatas in these photographs...

Unfortunately they're concealed by that lovely purple top.

henrymug
August 11, 2009 5:21 AM
they are design company not car company, and how can a design house with virtually a bunch of people and a few paper and pencil can lose so much money??? they went to gamble?

sris
August 11, 2009 11:00 AM
Good to know that u have good knowledge of the company.. being an Indian n having had a couple of my family members working for Tata, I do know my history well :) no doubting the fact that Tata has gained a lot from European manufacturers, but thats how its always been, every manufacturer has gained from another.. thats business.. the Tata-Fiat JV was Fiat's proposal to set a good base in India, which later became a world JV.. Tata has its own common rail engine, the multijet just happens to be a better engine n there r a hell a lot of manufacturers using that same engine.. n about Nano, it was designed internally, coz IDEA's top designers work for Tata.. so, it was designed abroad, but, it was designed by foreigners.. n yea, I do know that the deal is still in its nascent stage n this is still just a speculation, but looking at the way the world's gone tipsy-turvy, n yet the Asian giants r still on their feet says a lot ;) thats my point.. yea, the Europeans have done a great deal to this sector, but the way their biggest names seem to be crumbling, n then be restructured by some or the other Asian company seems to talk a lot about our business managerial skills.. so.. all I'm saying is that no matter wat the past had for us, the future seems to be ours :) many have cribbed about this.. so, its better to get used to this upsurge rather than crib.. n I say this with no animosity, but with shear pride ;) tc..

Edison
August 11, 2009 10:15 PM
Just like how Nissan is owned by Renault?? And yeah, the Chinese firms have done real well with Rover and Ssangyong (not!). By the way, there are plenty of western companies that are doing fine that employ people in India. Its a global economy and there will be winners and losers in all parts of the world, unlike in the colonial past. Bottom line, it is good that more people around the world will be able to enjoy driving and there are car manufacturers from different parts of the world with their own unique characters. At least that's my view as a car-lover.

sris
August 11, 2009 11:03 AM
oops.. I meant the Nano wasn't designed abroad.. my bad.. N tat post was for edison..

teuton
August 11, 2009 12:33 PM
One more Italian goes down the nasty tata drain. Hope Bollere makes a better deal! The JLR debacle is enough! On a different note, Tata seem to bite more than they can chew. Their acquisition spree may seem like jingoism to Indians, but we are gonna have the last laugh when Tata sink deep into the ocean debt they are already in. Looking forward to that day! Haha

TorroRosso
August 11, 2009 3:14 PM
Go for it Tata :) How cool would it be to see a Pininfarina badge on the next gen Indica?

amhirst
August 11, 2009 6:45 PM
Wow, ease it with the imperialism sris! Just because Tata and SAIC are out buying every bankrupt and defunct company they can find, doesn't mean they're taking over the world!!


Edited by user on August 11, 2009 at 7:53 PM
sris
August 11, 2009 6:48 PM
Heh heh.. sorry, just got a lil carried away.. sorry..

ocean_drift
August 11, 2009 8:20 PM
Just as I expected, I can hear some here whinning about Tata taking over Pininfarina..Its just a speculation, Nothing has been done yet. Even if so, there is nothing you will be able to do about it. Did someone say Tata are having Debt? People who say that don't know how much Does Tata have with them as a back up. Get a grip arm chair experts.....

sideskraper
August 20, 2009 2:56 PM
I'm with you.

I'm pretty appalled by the racist comments here. Tata, in their ownership of Jaguar and Land Rover seem to be walking the line more than adequately. The Tata group are arguably one of the most successful conglomerates in history. They don't accomplish success in such diversified fields over the last century without working out how and where to effect changes.

I have a feeling that Pininfarina would be able to operate as an Autonomous element of the Tata group rather than a subservient one.


Edited by user on August 20, 2009 at 3:00 PM
View Comment Rules

Add Comment

You are modifying your comment

Exisiting User

Username
Password
remember me

New Users

Username
Email
Password
Comment

Your account

username
password

Other links