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

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

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