PIF signs agreement to buy minority stake in Italy’s carmaker Pagani

19/08/2021 Argaam

Logo of the Public Investment Fund

The Public Investment Fund (PIF) signed a strategic agreement with Italy-based supercar maker Horacio Pagani SpA to acquire a stake in the company. 

 

Under the agreement, the PIF will buy a minority stake in Pagani, the Italian carmaker said in a statement. The Pagani family will keep its holding in the company as a major shareholder, while the founder, CEO and design manager, Horacio Pagani, will maintain his leading position and key role in the company. 

 

The deal comes as part of Pagani’s growth strategy, which aims to further the company’s position as “an iconic brand in the hypercars segment and help it explore new growth opportunities through launching the luxury ‘Pagani Art’ class”, the statement added. 

 

 

 

 

 

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