Three weeks, ago Businessweek reported that Investment Dar, Inc. was looking to shed its majority stake in Aston Martin. The Kuwait-based financial firm is apparently seeking to restructure its debt load and has sought $800 million for its 64-percent share in the English automaker. That amount compares to the $925 million that it took for a consortium, Investment Dar among them, to purchase 100-percent of Aston Martin from Ford in 2007.
Just last month, we heard rumors of a possible collaboration between Lotus and Aston Martin, but while we assumed this meant trouble for the Malaysian-owned Lotus, it could have been Aston Martin reaching out looking for a buyer. Businessweek reports five unnamed sources have stated that Investment Dar, Inc., the Kuwaiti-based majority shareholder of Aston Martin, has been reaching out to potential buyers for the brand.
Automotive News just reported that Ford received a total of $931 million for Aston Martin when it sold the British premium GT maker earlier this year. We had previously put the purchase price at $870 million after reducing it from the initial rumor of $965 million. Confused yet? Good, so are we. Basically all we need to know at this point is that Ford received $931 million for Aston Martin, in the form of cash and preferred stock in Primrose Cove Ltd. Primrose Cove is the name of the holding com
The Detroit News just reported that the winning bid for Aston Martin might be a little lower than we originally thought. The group of investors led by Prodrive's David Richards is about to close the deal for about £450 million ($870 million). That's a full 10 percent lower than we just reported yesterday. The £500 million guess would have been half of Ford's initial asking price for the British luxury sports car maker. Whatever the final price, we still believe Ford will keep an inte
Motor Trend is disputing yesterday's published reports that Brit luxury/sports car manufacturer Aston Martin will be sold to Louis Vuitton. According to MT, which cites "well-placed" UK sources, Aston's bags are packed and ready to leave Ford, but they do not have that iconic "LV" logo on them. Apparently the buyer is a group of high-finance types we've never heard of. They're set to pony up around $1 billion for the storied automaker.
Did you get your bid in? Hope you didn't put it off to the last minute and let it slip by. After all, this IS one of the coolest car companies on the planet. Just think of yourself being able to say, "I liked the car so much, I bought the company!" And even better is the knowledge that it might not be losing as much money as you may have thought when you first considered your bid. The bidding for Aston Martin is just about to close and we will hopefully have the winning bidders name for you as s
At least five potential Aston Martin buyers have now whipped out their platinum cards in anticipation of taking the esteemed carmaker off Ford's hands. One London banker said, "The interesting question is whether this is just going to be a scrap between the rich men of Russia and the rich men of the Middle East." It's interesting to note the plethora of former Ford execs hoping to get a piece of Aston.