Mahindra Near Deal to Acquire Pininfarina?

Mahindra & Mahindra Ltd. may finalize a deal to acquire Turin-based design and engineering firm Pininfarina SpA as early as next week, sources tell Bloomberg News.

The Italian design house has worked with Mahindra on the company's SUVs and the Halo electric sports car concept unveiled at last year's Delhi auto show. Bloomberg's sources say Pininfarina favors Mahindra over other possible bidders because of the Indian company's stability.

Pininfarina was founded 85 years ago and is known for designing such iconic cars as the Ferrari 250 GT, Testarossa and Enzo; Alfa Romeo Giulietta Spider; Fiat 128 Sport Spider and Rolls-Royce Camargue.

The company has lost money in 10 of the past 11 years. It continues to struggle with debt since phasing out its contract production business four years ago. Bloomberg says the company currently is valued at about $180 million.