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Pininfarina shares soar on report of looming sale to Mahindra

Published 08/09/2015, 08:21
Updated 08/09/2015, 08:28
© Reuters. A Pininfarina logo is pictured at the Casa Enzo Ferrari museum during a media preview in Modena
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MILAN (Reuters) - Shares in Italian car designer Pininfarina (MI:PNNI) rose on Tuesday after a press report said that it was close to agreeing a sale to Indian vehicle maker Mahindra and Mahindra (NS:MAHM).

Financial daily Il Sole 24 ore said in an unsourced report that within days the two groups, which have been in talks for months, could seal an "investment agreement" that would see Mahindra take control of the troubled Italian company.

Pininfarina, famous for designing Ferraris, was not immediately available for comment. Its shares were suspended from trading after rising 10.6 percent to 4.54 euros by 0709 GMT.

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