Even if the company aims at setting new profitability records, Aston Martin majority stake holder, Investment Dar, decided to sell its participation. The controlling share is estimated at 64% and, according to some sources, it already attracted several investors.
The Kuwaiti company hired Rothschild Group to advise them during the process. Investment Dar is asking $800 million for their stake, a big amount of money considering the current economic downturn. Big but not over estimated, as this is the same price Kuwaiti company paid for Aston Martin 5 years ago, when it bought the company from Ford.
Word has that India’s Mahindra & Mahindra is among potential buyers, but a source familiar with the matter said that also Toyota is interested. The company hired an auditor to conduct a preliminary review of Aston Martin less than two months ago.
The reason why the Kuwaiti company is selling its share? It needs the funds to reorganize a $4.9 billion debt after missing a payment on an Islamic bond in 2009.
11 Nov 2012
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