Car design Pininfarina family to sell in debt deal

Newswire

MILAN, Dec 31 (Reuters) - The Pininfarina family is set to sell out of its company, the designer of iconic cars for films and Ferrari, in a deal which will help the group handle its nearly 600 million euros debt. The brand, another casualty of world recession as car orders slow, said in a statement on Tuesday the family's holding Pincar had agreed with creditor banks to sell its 50.6 percent stake and would choose an adviser by Feb. 28, 2009. A draft accord should be signed on Wednesday. ...

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