This announcement will aid in Pagani's long-term vision.
Pagani has announced that they have signed onto a long-term partnership with the Public Investment Fund (PIF) out of Saudi Arabia. When this transaction is completed, PIF will have a minority stake in Horacio Pagani S.p.A., joining existing minority shareholders Nicola Volpi and Emilio Petrone. Additionally, the Pagani family will stay in control of the company as the majority shareholder and Horacio Pagani will stay in his current leadership position. This exciting announcement will allow Pagani to pursue more innovative advancements for their hypercars, as well as expand their presence as a lifestyle brand.
Horacio Pagani, Founder, CEO and Chief Design Officer of Pagani, commented: "PIF represents the ideal partner to further consolidate Pagani positioning as an iconic brand in the hypercars segment as well as to support its expansion strategy in the lifestyle segment."
This is fantastic news for both the Pagani company and fans of the automaker. Expect to see more exciting announcements from the Italian automaker in the future.
Source Pagani Automobili