(Adds quotes, background) MILAN, March 26 (Reuters) – Pininfarina confirms the interest of Mahindra & amp; Mahindra to purchase a majority stake, but stated that he had reached any binding agreement with the vehicle manufacturer in India. In the early hours of the morning the Indian group also released a statement at the request of the supervisory authorities of the local stock exchange, defining speculative news of interest for the purchase of the majority in the historic Turin body and stating that it is not involved in no agreement requiring notification. In early trading the shares of the group of automotive design have gone into negative on profit taking after the jump of over 26% scored yesterday in the wake of the news of the talks with the Indian group. “At present, despite the interest expressed by Mahindra, one of the most important customers of Pininfarina, there are no binding agreements of any kind between the parties which will lead to a purchase of Pininfarina by the Indian company” reads the statement released in Italy. The Turin-based company founded in 1930 that you have several models of luxury brands like Ferrari, pours some time in difficult financial conditions. With the debt restructuring launched in 2008, the control package of 76% held by Pincar Ltd was pledged to the creditor banks. The agreements with lenders require among other things the possible sale of the investment in Pininfarina Spa that would require not only the approval of Pincar Srl also that of all 13 institutions banceri pledgees, remembers today the company Italian. Of the three sources heard by Reuters yesterday, according to a negotiation is at an advanced stage but in the other two companies would still be far from reaching an agreement. The news of the ongoing talks between Pininfarina and Mahindra came three days after the announcement of the transaction that will bring Pirelli, another historic Italian brand, under the control of the Chinese ChemChina. More …
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