Mahindra & Mahindra’s takeover of Pininfarina could take place in the next couple of weeks, three sources have said. Two of the sources said a meeting with the Italian firm’s creditor banks is expected in to take place next week.
The banks would be give two options – immediate reimbursement of 50% of the debt or rescheduling debt repayments to 2025, one of the sources said.
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According to another source, the Pininfarina family is expected to keep a small stake and be involved in the management of the company, a Reuters report said.
Mahindra and Pininfarina declined to comment.
