Renowned automotive design house Pininfarina may soon be scooped up by new owners. According to several reports, Pincar, the company owned by relatives of Battista “Pinin” Farina, is planning to sell its 50,7 per cent majority stake in the firm.Pincar took the decision to sell its majority stake at a board meeting last week and it has hired a bank to source potential buyers. However, according to a report by a source within the Pinifarina company revealed that the family had “no intention of leaving completely” and that the sale was a measure taken to comply with the debt stipulations previously agreed upon by Pincar and its creditors last year.
Speculation is rife as to who will purchase the troubled company, and reports naming corporate giants such as Ratan Tata (head of the Tata Group, which also owns Jaguar and Land Rover), Albert Bombassei (Brembo chairman), Piero Ferrari (Enzo’s second son), and Vincent Bolloré (founder of the Bolloré French investment and industrial group) as possible candidates for majority shareholder have already done the rounds.
Similarly-embattled rival Italian coachbuilder Bertone had to apply for bankruptcy protection in 2007, while German firm Karmann succumbed to the global financial strain earlier this year a fate that seems to be on the cards for many other great car builders as manufacturers tighten belts and make use of leaner production processes.
Founded by Battista “Pinin” Farina in 1930, the firm is responsible for some of the most iconic car shapes of the 20th century, such as the Ferrari 250 GT, Alfa Romeo Spider, Lancia Montecarlo, Ferrari Testarossa, and Ferrari F40.
