Mahindra & Mahindra seems to be in the final stages of inking a deal with design house Pininfarina. There’s been word ofÂ Mahindraâ€™s interest in Pininfarina for a few weeks now, but it looks like the deal is set to be signed before the end of 2015. Both the parties have agreed on the finer terms of the deal and Mahindra is raising money in the range ofÂ â‚¬150 million (approximately Rs 1,100 crore) to facilitate the same. The deal withÂ MahindraÂ will also take care of Pininfarinaâ€™s debt, which as of September 2015, wasÂ â‚¬47.4 million.
With automobile makers nurturing in-house talent for automotive design, design houses like Pininfarina arenâ€™t in the pink of their health anymore. In fact, for 10 out of the last 11 years, Pininfarina has reported losses. The Mahindra-Pininfarina dealÂ will erase Pininfarinaâ€™s debt and could be a ray of hope for its future.