Mahindra & Mahindra inks brand licence agreement with Pininfarina
Posted on:31 May 2016 14:52:47
Free Current Affairs to Your Email
31 May 2016 Current Affairs: Mahindra & Mahindra today said it has entered into a brand licence agreement with Pininfarina for use of trademarks after closing the deal to acquire 76.06 per cent stake in the Turin-based company.
Last year Mahindra group had announced to acquire Pininfarina for an overall outgo of over 50 million Euros (nearly Rs 370 crore) after months of negotiations.
The acquisition was carried out through a special purpose vehicle (SPV). Last year the company had said that Tech Mahindra and Mahindra & Mahindra (M&M) will own 60 per cent and 40 per cent respectively in the automotive and industrial design firm.
That the transaction has closed, the SPV has acquired 76.06 per cent stake in Pininfarina and as part of the overall transaction, the company has also entered into a brand license agreement with Pininfarina for use of trademarks owned by the Pininfarina group including licensing of brand Pininfarina for automotive products of the company," Mahindra & Mahindra said in a regulatory filing.
The Mahindra counter ended 0.6 per cent down at Rs 1,327.50 on the BSE whose benchmark Sensex continued its upward journey for the fifth continuous trading day gaining 0.30 per cent.
FreshersLive - No.1 Job site in India. Here you can find latest 2018 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail.