M&M may strike Rs 1,095-crore deal to buy Italy's Pininfarina SpA
Only last week Pininfarina had said in an Italian newspaper that the company's controlling investor Pincar Srl and Mahindra were in talks and the deal could be expected in a few weeks.
Mahindra & Mahindra is in talks with to buy Pininfarina SpA, the Italian car designer, sources close to the matter have revealed, a Mint report said.
The deal may see Mahindra pay as much as $164 million (nearly Rs 1,095.19 crore).
There have been several delays in the deal, however, the two companies are now looking to seal the deal before the year is out, the sources said. However, there is still a possibility that the talks may fall through.
Only last week Pininfarina had said in an Italian newspaper that the company's controlling investor Pincar Srl and Mahindra were in talks and the deal could be expected in a few weeks.
If the deal comes through, it will be the third significant deal for Mahindra in recent time -- after taking over South Korea's Ssangyong and scooter unit of PSA Peugeot Citroen.
On Friday, the shares of the company closed at Rs 1262.30, down 2.23% or Rs 28.75 on BSE.