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Giugiaro sells his remaining stake to Audi

Snapshot: Giorgetto Giugiaro and his son, who were holding a 9.9% stake in the Italdesign Giugiaro, has sold the stake to the Audi, which was holding the other 90.1% shares.

Remember our report on the legendary designer Giorgetto Giugiaro? Well, if not, let us give you a refresher! Giugiaro is known to be the best designer alive who has designed some of the most beautiful looking and most selling cars across the globe and for most of the car manufacturers out there. And one of his car is about to fetch a record breaking amount in an auction.

The same Giorgetto Giugiaro and his son, who were holding a 9.9% stake in the Italdesign Giugiaro, has sold the stake to the Audi, which was holding the other 90.1% shares. Italdesign Giugiaro was founded by Giorgetto in 1968 and created many masterpieces afterwards. According to a report in 'Automotive News', the exact reasons for him selling his stakes are not yet clear.

But a statement said that Giorgetto wants "to dedicate more time to his personal interests." Though, the Italdesign Giugiaro will be open and keep growing, said the same announcement. Carrying his legacy for almost 3 decades, Giugiaro started facing a downfall in the 2000s and by 2010, he has to sell the 90.9% stake to the Volkswagen Group.

Among many of his famous works, the Volkswagen Golf went on to become a rage, considering it's the most sold car in the history of the automobiles. He won the prestigious 'designer of the year' award in 1999 and has designed cars for the who's who of the industry, including Ferrari, Lamborghini, BMW, Alfa Romeo, Maserati, Aston Martin, Renault, Suzuki and an endless number of manufacturers.

And about the auction that we discussed earlier, it's going to take place on the 5th September, 2015. The famous Auction House- Bonhams - will undertake the duty to sell a rare Maserati Boomerang concept at the auction, a one of its kind piece, which is expected to fetch a record $4 million for it. The images inserted are some examples of his exemplary work.

Click here to know more about the said auction and car!

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