Tata Motors is one auto manufacturer that is truly on the move. Having recently received the green light for its purchase of Jaguar and Land Rover the Indian manufacturer of utilitarian vehicles and the upcoming Nano ?peoples car? has according to Automotive News set its sights on another European icon - Pininfarina.
Pininfarina, the design house behind some of the world?s most beautiful automotive designs has found the last few years a little difficult and financial distress has a way of opening doors to new equity partners. With losses growing from 22 million euros in 2006 to 155 million euros in 2007 a white knight is needed.
Tata is looking to stake its claim on a minority shareholding in Pininfarina in partnership with French industrial group, Bollore and with up to $100 million euro to spend it would be enough to put Pininfarina back in the ring for another round.
If Tata get their way then it would be the Pininfarina family whose shareholding is diluted, from its current level of 55 percent down to 30 percent.
Pininfarina is perhaps best known as the name that adorns the flanks of some of Ferrari's finest, however in recent times almost a third of their business has centered around designing for some of the up and coming Chinese brands.
Further details are expected over the coming months.