Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[LVMH says Aston purchase is pure rumor]]>http://www.autoblog.com/2007/02/06/lvmh-says-aston-purchase-is-pure-rumor/http://www.autoblog.com/2007/02/06/lvmh-says-aston-purchase-is-pure-rumor/http://www.autoblog.com/2007/02/06/lvmh-says-aston-purchase-is-pure-rumor/#commentsFiled under: , , , ,

It looks like you won't be getting any custom luggage or wallet with your new Aston-Martin anytime soon. The rumors that LVMH, the $14 billion dollar conglomerate that owns such notable brands as Moet & Chandon champagne, Glenmorangie scotch, TAG Heuer watches and the Louis Vitton fashion label, will purchase Ford's Aston-Martin are in the company's words, "pure rubbish."

A company spokesman states that LVMH will not be the name announced when Ford finishes assessing the four serious bids for the automaker that are currently on the table. When the price was announced, nearly $800 million US, LVMH felt that was way too high and ended any serious consideration to purchase Aston-Martin.

The denial by LVMH is confirmation of part of the Motor Trend report that was published on the magazine's blog last Friday. MT's sources say that the buyer is a private investment firm.

Rumors are also circulating that the real reason is that current Aston-Martin boss Ulrich Bez was not interested in selling the company to a party without any automotive background. Couldn't he provide the automotive direction required to continue the resurgence at AM? We were really looking forward to AM-branded accessories, champagne, scotch and DB9-edition Tag Heuer.

[Source: Autocar}

LVMH says Aston purchase is pure rumor originally appeared on Autoblog on Tue, 06 Feb 2007 11:00:00 EST. Please see our terms for use of feeds.

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That didn't take long, did it? Apparently Aston Martin is a hotter brand than we thought, as CAR online is reporting that two European luxury good firms, neither with experience in the automotive industry, are both interested in the marque. Swiss-based Richemont, who you might know by its Cartier brand of French jewelry and watches, and French holding company LVMH, best known for its Louis Vuitton and Fendi brands of luggage and hand bags, are the two companies that could potentially pay up to $1 billion or more for Aston Martin.

The eventual buyer is going to get the Aston Martin name, the company's factories at Gaydon and Newport Pagnell, the entire R&D team and the brand's management including CEO Ulrich Benz.

[Source: CAR]

Let the bidding begin: Aston Martin's first suitors revealed originally appeared on Autoblog on Thu, 31 Aug 2006 12:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>CartierFendiLouis VuittonLouisVuittonLVMHRichemontsaleThu, 31 Aug 2006 12:01:00 EST