Mahindra Near Deal to Buy Pininfarina?

India's Mahindra & Mahindra Ltd. is close to finalizing a deal to acquire Italian design house Pininfarina SpA, according to media reports.

Talks between the two companies stalled in June over Mahindra's proposal to write off half of Pininfarina's €87 million in debt. But sources tells Bloomberg News the deal is now days away from being completed. Reuters reported in July that the talks were likely to resume in September.

Pininfarina has been struggling with operating losses for a decade. Reports in May said the designer of such iconic Ferrari cars as the 250 GT and Testarossa is currently valued at about €136 million.