LVMH says Aston purchase is pure rumor

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}

Share This Photo X