Aston owner seeks buyer for firm
Bloomberg claims Toyota and Mahindra & Mahindra are among potential suitors, but the asking price is being baulked at
Aston Martin’s majority shareholder is seeking to sell its stake and has approached potential buyers, according to online reports.
Bloomberg claims the Kuwait firm Investment Dar Co, which owns 64 per cent of Aston, has hired financial advisory firm Rothschild to advise on the sale and several buyers have already been approached, including Indian firm Mahindra & Mahindra.
Autocar is awaiting an official comment from Aston Martin on the reports.
Investment Dar was part of a consortium fronted by Prodrive’s David Richards that bought Aston from Ford five years ago. Richards became chairman of the famous British sports car maker, which has been led by CEO Ulrich Bez since 2000, after the takeover.
Bloomberg claims a sale of Aston is proving difficult, as a buyer willing to pay the $800 million (£640m) Investment Dar is seeking for its stake is not forthcoming.
The report also claims Toyota conducted a one-week study around two months ago into the feasibility of buying Aston, but it has progressed no further with its interest.
As recently as last month, Bez said Aston was not for sale, following rumours that it was looking to be taken over by a major car maker to help fund future product development.