Volkswagen today completed its takeover of Italian design consultants Italdesign with an overall majority share of 90.1%.
The acquisition now officially makes the VW group the largest car manufacturers in Europe and Italdesign seem happy to be under this umbrella commenting:
“Italdesign has now become a permanent member of the Volkswagen Group. Given the full order books and numerous interesting projects, the perspectives are better than ever.”
The Italian company have been in business for over 50 years and pride themselves on having designed some of Italy’s iconic exports such as the Fiat Punto and the Alfa Romeo 156. Other clients of the company include Volkswagen where Italdesign were responsible for the Passat and Sicrocco.
The remaining 9.9% of shares have stayed with the founding family the Giugiaro’s who will stay on as directors of the company.
No details have been released yet as to whether the IDG would work exclusively for VW or carry on in its contracting business.
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