- May 7, 2007
Kuwait firm puts Aston Martin stake in play for sale
The ink isn't dry on the contracts and the ownership transfer won't even be complete for another thirty days. However, Kuwaiti firm Investment Dar and its partner Adeem Investment Company are planning to put their stake up for sale. The consortium that purchased Aston was led by Dave Richards, backed by the Middle Eastern firms and American banker John Sinders. Using the best numbers we could find, Aston was sold for 479 million pounds, Investment Dar put up 240 million pounds, international banks pitched in 200 million pounds, and Ford retained a 40 million pound share. We don't know where the extra one million large went, but those are the numbers.
Investment Dar is the largest listed investment company in the Gulf. It says it has been getting bids daily and that it has planned to sell the stake, but we wonder if everyone knew that a sale would be in the cards and publicized so soon. According to Reuters, the Dar sale could happen any time, though it hasn't identified any bidders, and the firm would expect to make at least 20 return on its investment. In the mean time, the company will help Aston focus on new models and expand its dealer network. Either way, we hope that this doesn't create any more instability for a great company getting back on its feet. And we really hope it doesn't do anything to interrupt the arrival of the Rapide.