Aston Martin not for sale; in talks over capital injection

LONDON Thu Nov 29, 2012 6:58pm IST

A new Aston Martin V8 Vantage S car is displayed during the first media day of the 81st Geneva International Motor Show at the Palexpo in Geneva March 1, 2011. REUTERS/Denis Balibouse/Files

A new Aston Martin V8 Vantage S car is displayed during the first media day of the 81st Geneva International Motor Show at the Palexpo in Geneva March 1, 2011.

Credit: Reuters/Denis Balibouse/Files

Related Topics

Stocks

   

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

Indian tractor maker Mahindra and Mahindra (MAHM.NS) 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 on Thursday.

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 $400 million.

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

(Reporting by Rhys Jones; editing by Rosalba O'Brien)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Popularity Poll

REUTERS SHOWCASE

Record Highs

Record Highs

Nifty touches record high; software stocks gain.  Full Article 

New Adviser

New Adviser

Arvind Subramanian likely to be chief econ adviser.  Full Article 

Pricing Mechanism

Pricing Mechanism

Govt sets up a four-member panel to re-examine gas pricing.  Full Article 

Royalty Rates

Royalty Rates

India to hike iron ore royalty, miners may struggle to pass on extra cost.  Full Article 

Diesel Deregulation

Diesel Deregulation

Oil ministry to seek Cabinet nod on diesel deregulation - sources  Full Article 

Commodities

Commodities

Gold near two-month low; set for weekly drop on interest rate fears  Full Article 

Reuters Exclusive

Reuters Exclusive

Apple iPhone 6 screen snag leaves supply chain scrambling   Full Article 

Helping Regional Mills

Helping Regional Mills

Govt raises sugar import duty to 25 pct from 15 pct.  Full Article 

Curbing Risks

Curbing Risks

RBI to lower ceiling on bank loans to a single corporate group.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage