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

REUTERS SHOWCASE

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Asian Markets

Asian Markets

Asian shares shine on U.S. tech results, ECB hopes  Full Article 

Pollution Levels

Pollution Levels

Delhi braces for worst air quality this Diwali week.  Full Article 

Stalemate

Stalemate

WTO prepares for crisis talks as India keeps veto on global deal.  Full Article 

Deal Talk

Deal Talk

Smartphone repair company B2X steps up expansion with Indian deal.  Full Article 

Ebola Outbreak

Ebola Outbreak

India to step up travel surveillance to stop any Ebola outbreak  Full Article 

Reuters India Mobile

Reuters India Mobile

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