Pininfarina family to sell 50.7% stake in coachbuilder

According to company sources, family owners of coachbuilder Pininfarina have hired Italy’s Banca Leonardo to sell their majority stake in the company. Pincar, the Pininfarina family company, will sell its 50.7 percent stake in the company as a part of a debt agreement made with banks at the end of 2008.

“It is a commitment Pincar made with the banks. The family has no intention of leaving completely,” sources said.

Vincent Bollore, who is working with Pininfarina to develop an electric-car, said he would consider taking a stake in the coachbuilder. Separately, Tata Motors, who is already allied with Fiat, has been mentioned as an investor.

Sources at Pininfarina denied to comment on the possible buyers or provide a timetable for the deal.

– By: Omar Rana

Source: Reuters