Pininfarina is on track in the quest to restructure its debt, according to a report from Reuters. The famed Italian styling house shuttered its manufacturing business in 2011, ending a joint venture with Volvo that had seen Pininfarina assemble the C70, in order to focus on its automotive design business. While good news for the long-term financial health of the company, the deal will hand the Pininfarina family's 77-percent controlling share over to creditor banks that include Intesa Sanpaolo, UniCredit, Mediobanca and Banca Monte dei Paschi di Siena.
Autoblog, Pininfarina family poised to lose control of 82-year-old company
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