MILAN/MUMBAI: Car designer Pininfarina and Mahindra and Mahindra are aiming to reach a deal on the sale of the Italian group to the Indian vehicle maker in the next couple of weeks, several sources close to the situation said on Tuesday.
Two of the sources said a meeting with Pininfarina’s creditor banks was likely to take place soon, possibly next week. The banks would be offered the option of debt rescheduling or of a reimbursement but with a 50 percent haircut, one of the sources said.
Another source said the Pininfarina family would keep a small stake in the group and be involved in management of the company after the sale.
Keyword: Deal on Pininfarina's sale to Mahindra seen in next few weeks