Aston Martin in talks over capital injection
Owner insists company 'not for sale' as suitors gather
By CFOWorld.co.uk staff | CFO UK | Published 14:40, 29 November 12
Luxury sportscar maker Aston Martin, owned by Kuwaiti investment house Investment Dar, has confirmed it is in talks with potential investors over an “injection of capital” into the business.
However, Investment Dar refuted reports on Thursday that it was a willing participant in a bidding war for Aston Martin between Indian 4X4 and tractor manufacturer Mahindra & Mahindra and Italian Private Equity group Investindustrial.
A spokesperson told the Reuters news agency that Aston Martin or even a partial stake in the sportscar manufacturer was “not for sale”.
"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," she added.
Aston Martin also confirmed that its third quarter presentation to bondholders, published late on Wednesday, described the talks as being "at an advanced stage".
However, Indian broadcaster NDTV, citing sources close to the negotiations, said Mahindra & Mahindra was confident of a deal being struck for a 40 percent stake in Aston Martin “within a matter of days” after having beaten the Italian bid.
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