#PininfarinaFamily

Pininfarina Family to Lose Control of 82 Year Old Company

According to Reuters, creditor banks are working on an agreement to restructure Pininfarinas $99 million debts. One source says “”The agreement will fix the capital structure for the foreseeable future.” However, when the agreement is reached, it will give the banks control of the Pininfarina’s 77 per cent stake in the company. This would effectively end the family’s ownership 82 year ownership of the company.