A week ago Mahindra & Mahindra, along with Investindustrial, were in a bidding war to take over the keys to Aston Martin. Now it’s come to light that Mahindra has withdrawn its offer and, consequently, Kuwait’s Investment Dar has accepted £150-million from Investindustrial in exchange for a 37.5 percent share in Aston Martin.
Investment Dar still retains the majority share in Aston Martin, but this latest cash injection forms part of a 500-million total investment towards new technology and subsequent new models over the next five years. Part of the company’s path towards profit is expansion into new markets, particularly China, where Aston Martin is looking to eventually introduce new models falling under its historic Lagonda brand, which will be sold alongside its traditional sports car offerings.
Having sold Ducati to Audi back in April, Investindustrial is not only cash flush but is also believed to be bringing to Aston a technical arrangement with Daimler AG. The agreement, which had been established between Ducati and AMG prior to Investindustrial’s sale of Ducati to Audi, could bring everything from platforms to engines and even hybrid technology to the Aston stable.
David Richards, Chairman of Aston Martin, said: “I am delighted that Investindustrial has decided to become a major investor in Aston Martin,… With this partnership and the continued commitment of Investment Dar, we look forward to working with our shareholders as we realize our vision and exciting future plans.”
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