THERE ARE EMERGING REPORTS that the Farina family is looking to sell off a majority stake in its iconic design house, Pininfarina, most recently involved in the design of the all-new Ferrari 458 Italia.
The Farina family is believed to be looking at offering a 50.7 percent stake to potential suitors, while still maintaining a presence within the company.
The move comes as part of debt stipulations agreed upon with banks last year. Luxury coachbulders, including rival Bertone - the sale of which to Fiat has just been approved by the Italian Government - are suffering as a result of falling demand for their design services and bespoke products.
Pincar, the Farina family?s company, has engaged the services of an Italian bank to facilitate the sale.
Several buyers have indicated early expressions of interest including Piero Ferrari, son of Enzo Ferrari, the Chairman of Brembo, Alberto Bombassei, Vincent Bollore, a French financier and the Mardiaj family, founders of the Sabelt seatbelt company.
Tata Motors CEO, Ratan Tata, has also announced plans to invest in Pininfarina.
Pininfarina currently produces the Focus CC for Ford, C70 for Volvo and the Alfa Romeo Brera and Spider.
Past design work includes Ferrari?s 612 Scaglietti and Enzo and F40, through to Daewoo?s Tacuma in 2000 and Lacetti in 2002.