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David Richards Buys Aston Martin

Duncan

By Duncan
in General Automotive

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Duncan Newbie

Duncan

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You guys most likely heard this already.

A consortium lead by Richards has bought the troubled Aston Martin.

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miniace Newbie

miniace

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Yeah Ford ownes AM since 1993.Heard the deal is about £500m .

experts and enthusiasts welcome the prospect of a return to British hands, they also fear its new owner could be too small to keep Aston Martin in good financial shape.

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dinosh Newbie

dinosh

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Ford today officially announced the sale of Aston Martin to an investment group lead by Prodrive founder and chairman David Richards. The deal — expected to close during the second quarter — is valued at $925 million, the company said. Ford plans to retain a small $77 million stake in Aston.

The new owner of Aston Martin is a consortium comprised of: David Richards, founder and chairman of Prodrive, a world-leading motorsport and automotive technology company; John Sinders, an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait.

CEO Dr Ulrich Bez will remain in charge of Aston Martin.

Source - http://www.leftlanenews.com/ford-sells-aston-martin.html

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isurujosh Newbie

isurujosh

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You guys most likely heard this already.

A consortium lead by Richards has bought the troubled Aston Martin.

AM not troubled their cars had been selling well since of late... ford sells coz they need cash to run restrcturing of ailing US operations ... :D

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Devinda_Z Apprentice

Devinda_Z

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isnt that nearly double é intial valuation of Aston?

& any idea who é other investors are & exactly how much money n wut other areas they're into? :huh:

...but i guess this is where oil money pays off...é Arab world finally gets into é motoring industry in some way or another - but i'd have thought it would have come n é way of an Shiek buying a niché manufacturer outright as opposed to a large scale take over by a group! :D

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