Pininfarina shares suspended from trading pending statement

Sources said Mahindra & Mahindra was close to signing a deal to buy the Italian car designer

Shares in Pininfarina are suspended from trading pending a statement, the Italian stock exchange said on Monday after sources said Mahindra & Mahindra was close to signing a deal to buy the Italian car designer.

As part of the agreement, Mahindra will inject about 150 million euros ($165 million) in the business to refinance its debt and provide fresh capital for investments, one of the sources said on Friday.

Milan-listed Pininfarina has designed cars for Ferrari, Maserati, Rolls-Royce and Cadillac.