Aston Martin seen in deal with Investindustrial - sources

MILAN Fri Dec 7, 2012 1:27am IST

An Aston Martin V12 Zagato is displayed inside a dealership in central Beijing November 29, 2011. REUTERS/Soo Hoo Zheyang

An Aston Martin V12 Zagato is displayed inside a dealership in central Beijing November 29, 2011.

Credit: Reuters/Soo Hoo Zheyang

Stocks

   

MILAN (Reuters) - Italian private equity fund Investindustrial is likely to announce it will invest in British sportscar maker Aston Martin on Friday, two people familiar with the matter said on Thursday.

"It's probable that there will be an announcement," one of the two people said, declining to elaborate on what the deal would entail. "It's not 100 percent certain, but it's probable."

Indian tractor maker Mahindra and Mahindra (MAHM.NS) had been in talks to inject cash into the iconic sportscar brand from Aston's owner, Kuwaiti investment house Investment Dar, sources said. It was not clear whether it had pulled out of the race.

Investindustrial had earlier bid between 200 million and 250 million pounds for a 50 percent stake and agreed on a technical partnership deal for Aston Martin with Daimler' AG's Mercedes (DAIGn.DE), another person told Reuters on November 23.

Investindustrial, owned by Italy's Bonomi family, is not new to luxury motor brands. In 2006, it bought Italian motorcycle maker Ducati and sold it for about 860 million euros last April to Volkswagen's (VOWG_p.DE) Audi division.

The Indian group had hoped to strike a deal to buy up to half of Aston Martin by the end of November, sources said at the time, 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. A spokesman for Investment Dar was not immediately available for comment, nor could Mahindra be reached for comment.

(Reporting by Jennifer Clark and Rhys Jones; editing by Andrew Hay)

  • Most Popular
  • Most Shared

DEFENCE

REUTERS SHOWCASE

Canonisation

Canonisation

Pope declares sainthood of two Indians, four Italians.  Full Article 

Stake Sale Strike

Stake Sale Strike

Coal India trade unions call off strike in victory for Modi.  Full Article 

Markets Weekahead

Markets Weekahead

Ride the bull with a finger on the ejector button.  Full Article 

Arms Purchase

Arms Purchase

India approves $2.6 bln mounted gun purchase - official.  Full Article 

Interview with Bulgari CEO

Interview: Bulgari CEO

Bulgari CEO: we shouldn’t have left India so we’re back  Full Article 

Formula One

Formula One

Hamilton takes second F1 title in style.  Full Article 

Available For Remake

Available For Remake

Bollywood finally wants to pay the price for remakes  Full Article 

Davis Cup

Davis Cup

Vintage Federer seals first Davis Cup for Switzerland.  Full Article 

Movie Review

Movie Review

"Happy Ending" is old wine in an older bottle  Full Article 

Reuters India Mobile

Reuters India Mobile

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