You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Competing bids offered for Aston Martin stake

LONDON — Aston Martin owner Investment Dar Co. has received competing bids from Investindustrial and Mahindra & Mahindra for half the sports-car maker, three people familiar with the matter said.

Investment Dar and other Kuwaiti investors who own Aston Martin may choose a winner as early as this weekend, said the people, who asked not to be identified because the talks are private. The buyer will get the stake as part of a capital increase, two of the people said.

Continue reading below

Investindustrial, a European private-equity fund based in London, offered just under $401 million, said the people. Indian automaker Mahindra then trumped the offer with a higher bid, they said.

A decision would mark the end of a months-long search by Investment Dar to find an investor for Aston Martin, the maker of luxury sports cars featured in James Bond movies, people familiar with the matter said earlier this month. For Investment Dar, part of the group that bought Aston Martin from Ford for $805 million in 2007, the proceeds would help the company pay off debt.

The winning bidder will get 50 percent of the voting rights and a 40 percent equity stake, one of the people said. Investment Dar, the other Kuwaiti investors, and Aston Martin management will retain the rest, the person said.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of