Mahindra Expected To Acquire Pininfarina In The Next Few Weeks

Legendary Italian car design firm Pininfarina has stated, that the deal by which the company will be acquired by Indian carmaker Mahindra and Mahindra, is expected to be finalized in the next few weeks.

Pininfarina confirmed that the talks between its main shareholder Pincar and creditors with Mahindra over debt restructuring and the acquisition of shares owned by Pincar never broke off.

The Italian design firm has been struggling to stay in business as many of its major clients like Ferrari, Maserati and Rolls-Royce moved switched to in-house design teams. The firm's net debt at the end of June stood at $57 million.