by Christopher Freeburn | November 12, 2012 11:18 am
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).
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.
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