Aston Martin Up for Sale, Toyota Interested?

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

[1]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[2].

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[3]).

Sources said Toyota (NYSE:TM[4]) 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[5]) Ferrari and Volkswagen‘s (PNI:VLKAY[6]) Bentley.

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

Endnotes:

  1. [Image]: https://investorplace.com/wp-content/uploads/2012/10/james-bond-skyfall-630.jpg
  2. soliciting possible suitors for the company: http://www.bloomberg.com/news/2012-11-09/aston-martin-owner-said-to-approach-suitors-for-carmaker.html
  3. F: http://studio-5.financialcontent.com/investplace/quote?Symbol=F
  4. TM: http://studio-5.financialcontent.com/investplace/quote?Symbol=TM
  5. FIATY: http://studio-5.financialcontent.com/investplace/quote?Symbol=FIATY
  6. VLKAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=VLKAY

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