Aston in sale talks

Aston Martin V12 Vanquish. Photo / Jacqui Madelin
Aston Martin V12 Vanquish. Photo / Jacqui Madelin

Aston Martin has admitted it is in "advanced" talks with potential investors, but its owners have ruled out a sale of the business.

A spokeswoman for the firm said: "We are in talks for a capital increase. The company was not for sale and our existing shareholders ... are very much committed to Aston Martin."

Rumours have surrounded the carmaker for weeks with offers believed to have come from Italian private-equity fund Investindustrial and India's Mahindra & Mahindra.

The Indian group is believed to want to buy up to half the company for around $487 million.

Kuwaiti investment house Investment Dar bought the brand from Ford five years ago for £479 million ($927 million) with Kuwaiti fund Adeem Investment.

Dave Richards, the former Formula One Benetton and BAR boss, fronted the consortium and remains chairman of Aston Martin.


-Independent

© Copyright 2014, APN New Zealand Limited

Assembled by: (static) on red akl_n6 at 01 Aug 2014 10:41:11 Processing Time: 550ms