Mahindra & Mahindra inks brand licence agreement with Pininfarina

Posted on:31 May 2016 14:52:47
Mahindra & Mahindra inks brand licence agreement with Pininfarina
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. 

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs January 2018

20 JANUARY
NEWS
19 JANUARY
NEWS
18 JANUARY
NEWS
17 JANUARY
NEWS

Current Affairs December 2017

31 DECEMBER
NEWS
30 DECEMBER
NEWS
29 DECEMBER
NEWS
28 DECEMBER
NEWS

Current Affairs November 2017

30 NOVEMBER
NEWS
29 NOVEMBER
NEWS
28 NOVEMBER
NEWS
27 NOVEMBER
NEWS