Mahindra & Mahindra Ltd.

BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3120.45
36.95 (1.20%)
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M&M enters into Brand License Agreement with Pininfarina

Date: 31-05-2016

Mahindra & Mahindra (M&M) has 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. The company has taken this step pursuant to acquisition of 76.06% stake in Pininfarina through a Special Purpose Vehicle (SPV).

Last year in December, the company announced acquisition of 76.06% stake in Pininfarina S.p.A (Pininfarina) through SPV. Tech Mahindra would hold 60% in the said SPV while the company will hold the remaining 40% stake in SPV.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.