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Aston Martin Up for Sale, Toyota Interested?

It was owned by Ford until a Kuwaiti firm bought it in 2007


James Bond’s favored car brand is up for sale. Sources tell Bloomberg that Kuwait’s Investment Dar, which holds a controlling stake in Aston Martin, is soliciting possible suitors for the company.

The search for a buyer has been hampered by the $800 million price tag Investment Dar has attached to its stake. The company acquired a 64% interest in Aston Martin in 2007 for $503 million. Aston Martin had previously been owned by Ford (NYSE:F).

Auto Market WILL NOT Be Flooded With Flood-Damaged Cars
Auto Market WILL NOT Be Flooded With Flood-Damaged Cars

Sources said Toyota (NYSE:TM) has conducted due diligence of Aston Martin’s books, but has not yet made an offer.

India’s Mahindra & Mahindra has been cited as another potential bidder for Aston Martin, which is struggling to compete with other high-end brands, including Fiat‘s (PINK:FIATY) Ferrari and Volkswagen‘s (PNI:VLKAY) Bentley.

A representative of Aston Martin told Bloomberg that the company wasn’t for sale.

Article printed from InvestorPlace Media, http://investorplace.com/2012/11/aston-martin-up-for-sale-toyota-interested/.

©2017 InvestorPlace Media, LLC