Mahindra, Tata, Toyota and a Chinese company in race to buy Aston Martin
Aston Martin has and always be looked upon as one of the prestigious brands in the auto industry. The British supercar manufacturer, once upon a…
Aston Martin has and always be looked upon as one of the prestigious brands in the auto industry. The British supercar manufacturer, once upon a time was under the Ford wing during 1994 to 2007 and is now owned (64%) by a firm supported by Kuwait Group Investment Dar, who purchased the firm for a sum of £479 million ($805 million) in 2007 from Ford.
Talks are on that the esteemed brand is once again for sale (complete or partial) and this time round it is Indian car manufacturers Mahindra along with Tata Motors who are vying for this takeover. Mahindra are at the helm with Toyota to take on 64% stake held by Investment Dar in Aston Martin while at the same time Tata Motors too are not giving up hope of owning this brand and are in talks to offer their wager in the buyout. A Chinese company too is interested.
The sale has proved difficult as investors cannot match the price that the Kuwait owner paid five years ago. Investment Dar has sought $800 million for its stake and the proceeds will help the company regain what the invested financially. Only time will tell as to which of these two India suitors finally acquire Aston Martin. But as of now, no official word is out.
Source: The Hindu