It's being reported that Aston Martin's controlling shareholder, Investment Dar Co. has approached potential buyers who may be interested in buying the brand. The Kuwaiti company owns 64 percent of Aston Martin has reportedly approached potential suitors like Mahindra & Mahindra Ltd. and Toyota.
Investment Dar Co. is seeking a buyer since the company agreed to reorganize $4.9 nillion of debt after it missed a payment on an Islamic bond in 2009. The biggest hurdle is that Investement Dar Co. wants the $800 million it paid for Aston Martin, when it bought the brand from Ford five years ago.
As the only global luxury brand that isn't part of a larger auto group, Aston Martin has been at a disadvantage."I don't think you can truly compete without having the capabilities of a large car company behind you," said John Wolkonowicz, an independent auto analyst.
Toyota reportedly hired an auditor to conduct a one-week study on buying a stake in Aston Martin, but the analysis was conducted two months ago and hasn't materialized into a full study.
|« Previous||Next »|