Bollore ready to buy a 30 percent stake in Pininfarina

Article by Christian Andrei, on January 23, 2011

Vincent Bollore told Reuters that he is ready to invest EUR30 million ($40 million) to buy a 30 percent stake in Pininfarina S.p.A. Bollore is CEO of Bollore S.A. – an EUR6 billion investment, industrial, logistic and media group.

Bollore is perhaps the most likely bidder for Italy's struggling automotive design and engineering specialist. Pininfarina attested that Bollore has sent a non-binding letter of intent to Banca Leonardo, an Italian merchant bank that wants a buyer for a 76.1 percent stake of Pininfarina owned by creditor banks.

Bollore said it will not exceed a 30 percent stake in Pininfarina. Italian stock market regulations require an investor to buy all the shares in a listed company when its stake exceeds 30 percent.

Pininfarina is listed on the Milan stock exchange. Spurred by rumors of a bid, Pininfarina shares have jumped from a low of EUR1.63 on July 26, 2010 to EUR7.77 in recent trading.

Rival bidder Magna International Inc. has dropped out of the race and Beijing Automotive, which reportedly was eyeing a Pininfarina bid, claims that it is not interested.

Four years ago, Bollore and Pininfarina formed a 50:50 partnership to build electric vehicles and planned to invest EUR150 million to make a four-seat car that Pininfarina would design and that would feature Bollore's lithium ion batteries. [via autonews - sub. required]

Topics: pininfarina

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nikola Motor’s hydrogen-powered semi-trailer truck is highly appealing with its many advancements but don’t expect it to arrive in the near future. In November 2016, Toyota announced the possibility of...
by - December 5, 2016
Usually, it is up to resourceful spy photographers to take clear pictures of vehicle prototypes, especially those that have aroused a lot of interest. The same is true for Project...
by - December 5, 2016
The much-anticipated debut of the new Wrangler will surely happen. As it approaches, we’ve gathered all the latest information released so far. Of course, most are expecting that the next...
by - December 5, 2016
Nissan has announced the pricing for its new commercial pickup line. So for those who have been waiting for Nissan’s official price list (plus a little more info), read on… ...
by - December 5, 2016
Sorry folks, the AMG-fied Mercedes-Benz X-Class will remain in the fantasy world. According to some news, the AMG big boss has finally spoken up about why an AMG X-Class is...
by - December 5, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries