Mahindra in Bid to Buy Pininfarina

Mahindra & Mahindra Ltd., India's largest SUV maker, is close to a deal to buy Turin-based design and engineering firm Pininfarina SpA, sources tell Bloomberg News.

The 85-year-old firm has designed cars for Alfa Romeo (Giulietta Spider), Bollore (Bluecar), Cadillac (Allante), Ferrari (250 GT, Enzo, Scaglietti and Testarossa), Fiat (128 Sport Spider), Maserati (Quattroporte) and Rolls-Royce (Camargue). It also has worked on numerous projects with Mahindra.

Pininfarina once made cars on a contract basis. It phased out those operations in 2011 as it continue to struggle for more than a decade to achieve sustainable profitability. The company has been a continuing target of suitors that have included Bollore, Magna and several Chinese carmakers.