Aston Martin stake not for Mahindra
Mahindra’s bid for stake in Aston Martin, was nothing less than a roller coaster ride. First it was on top, then bottom and now, finally…
Investindustrial, former Ducati owner and one of the largest investment groups, currently in Europe, has beaten M&M in securing the Aston Martin. The final agreement was signed and sealed yesterday. We will never know why Mahindra backed off, or lost to Investindustrial, in buying Aston Martin stake, as they never stated officially that they were in the race to bid for Aston Martin in the fist place.
Aston Martin is valued at £750 million ($1.21 billion) including debt. Through this deal, Aston Martin stands to gain cash infusion to invest in automotive resources which will enable it to compete with Volkswagen AG’s Bentley and Fiat SpA’s Ferrari.
Mahindra and Mahindra have declined from making any comments in the matter, but it is believed that they backed off from buying Aston Martin because of the huge amount of existing debt it carries. It would’nt have been feasible, considering that Mahindra bought 70% stake in SsangYong, the Korean cacr manufacturers for a price of 427.1 billion Won ($368 million) last year.
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