Aston Martin’s acquisition: Italian fund, Indian carmaker in the race
A deal is expected to be finalised over the weekend.
MILAN:
Italian private equity fund Investindustrial and Indian car maker Mahindra have made competing bids for 50% of British luxury car maker Aston Martin, with a deal expected over the weekend. Investindustrial reached a agreement with Kuwaiti investment house Investment Dar, which owns Aston Martin, on Thursday but afterwards Mahindra made a higher counter bid, the source said. “They are in talks. A deal is expected to be finalised over the weekend,” the source said. A spokesman for Investment Dar was not immediately available for comment, nor could Mahindra be reached for comment. The source said Investindustrial had made a bid worth around $400 million for the stake and was confident in winning the race because its proposal was “technically” superior. It said Investindustrial had agreed to a technical partnership deal with Daimler AG’s Mercedes.
Published in The Express Tribune, November 25th, 2012.
Italian private equity fund Investindustrial and Indian car maker Mahindra have made competing bids for 50% of British luxury car maker Aston Martin, with a deal expected over the weekend. Investindustrial reached a agreement with Kuwaiti investment house Investment Dar, which owns Aston Martin, on Thursday but afterwards Mahindra made a higher counter bid, the source said. “They are in talks. A deal is expected to be finalised over the weekend,” the source said. A spokesman for Investment Dar was not immediately available for comment, nor could Mahindra be reached for comment. The source said Investindustrial had made a bid worth around $400 million for the stake and was confident in winning the race because its proposal was “technically” superior. It said Investindustrial had agreed to a technical partnership deal with Daimler AG’s Mercedes.
Published in The Express Tribune, November 25th, 2012.