Kuwait-owned Aston Martin 'not for sale'

Luxury British car maker says in 'advanced' talks for injection of capital only

(Getty Images)

(Getty Images)

British sports car maker Aston Martin has said it is in "advanced" talks with potential investors over an injection of capital into the business.

Indian tractor maker Mahindra and Mahindra last week topped an offer from Italian private equity fund Investindustrial that had been agreed with Aston's owner, Kuwaiti investment house Investment Dar, sources said.

"We are in talks for a capital increase, the company is not for sale and our existing shareholders, Investment Dar, are very much committed to Aston Martin," an Aston Martin spokeswoman told Reuters.

The spokeswoman confirmed that Aston Martin's third-quarter presentation to bondholders, published late on Wednesday, described the talks as being "at an advanced stage".

The Indian group hopes to strike a deal to buy up to half of Aston Martin by the end of this week, sources said on Tuesday, adding that the deal would likely be for an initial 40 percent stake that could rise to 50 percent for a total price of around $400m.

Investment Dar has consistently denied it is in talks to sell all of part of its stake in Aston Martin.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
A humbler Qatar still wants to punch above its weight

A humbler Qatar still wants to punch above its weight

Qatar has acquired more than $335bn worth of assets around the...

Saudi Arabia spends money to make money

Saudi Arabia spends money to make money

Tour of Asia by Saudi Arabia's King Salman advances drive to...

Soft money: will cash transactions soon be a thing of the past?

Soft money: will cash transactions soon be a thing of the past?

The rapid digitisation of banking in the UAE is enabling robots...

Most Discussed
sponsoredTracking