Mahindra close to purchase of Italian car designer Pininfarina
Mahindra & Mahindra is close to signing a deal to buy Italian car designer Pininfarina two sources with direct knowledge of the matter said on Friday, the latest purchase of an iconic Italian brand by an Asian company.
Mahindra has earned a reputation for buying distressed, undervalued companies, analysts said. In 2010, it bought troubled South Korean automaker Ssangyong Motor and last year it acquired a majority stake in France-based Peugeot's loss-making scooter business.
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