Sunday, November 25, 2012

Autocar Online - News

Autocar Online - News

Aston Martin sale could be imminent

Posted: 25 Nov 2012 01:26 AM PST

The Financial Times reports that two firms have tabled bids for 50 per cent of Aston Martin; one offer includes Mercedes technical partnership

A 50 per cent stake in Aston Martin could be sold before the end of the month, according to reports.

The Financial Times is reporting that Aston Martin's Kuwait owners, Investment Dar, has had bids tabled for half the company from Indian car maker Mahindra & Mahindra and European buyout group Invest Industrial.

Mahindra & Mahindra are said to have made the higher bid, but Invest Industrial are reported to be offering a technical partnership with Mercedes as part of the deal.

Financial Times insiders report that the proposed technical partnership is seen as a "trump card" by Investment Dar.

Aston Martin boss Dr Ulrich Bez recently told Autocar that the company was not for sale, but conceeded the potential need for a technical partner.

Investment Dar led a consortium that bought Aston Martin for £493m in 2007.

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