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Italy's Pininfarina shares surge on India interest

AFP
AFP - [email protected]
Italy's Pininfarina shares surge on India interest
Cars are displayed in the Pininfarina Museum during the company's 80th anniversary in 2010. Photo: Giuseppe Cacace/AFP

Shares in Italian auto design group Pininfarina surged more than ten percent on Wednesday on a report Indian conglomerate Mahindra was planning a bid.

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In mid-afternoon trading, the stock was up nearly 15 percent at €4.69, giving the financially troubled group a market capitalization of more than €140 million.

Quoting sources close to negotiations, Bloomberg said Mahindra was on the verge of purchasing a company responsible for the design of more than 1,000 cars for the likes of Ferrari, Alfa Romeo and Peugeot.

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