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Tech Mahindra to increase stake in Italian design firm Pininfarina

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Tech Mahindra to increase stake in Italian design firm Pininfarina

Business News Tech IT Tech Mahindra to increase stake in Italian design firm Pininfarina

Tech Mahindra’s subsidiary, PF Holdings BV, entered into a commitment to buy the shares at 1.20 euros each, the Indian IT services company said in a stock exchange filing on Friday. The shares account for 10.02% of Pininfarina’s issued capital.

Bengaluru: Tech Mahindra will raise its stake in Pininfarina to 92.59% by acquiring 7.89 million shares for up to 9.46 million euros in cash, as the Italian car design firm moves towards delisting from Borsa Italiana.Tech Mahindra’s subsidiary, PF Holdings BV, entered into a commitment to buy the shares at 1.20 euros each, the Indian IT services company said in a stock exchange filing on Friday. The shares account for 10.02% of Pininfarina’s

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